Ideas & Insights

The SECURE Act makes changes affecting retirement benefits in qualified plans and in IRAs for both the employers and individuals.

The IRS has released the final version of Form W-4 reflecting changes to employee withholding from the Tax Cuts and Jobs Act.

The IRS released proposed regulations which supplant and largely following previous guidance in Notice 2018-68 with important distinctions.

The Final QOZ Regulations have been submitted to the Office of Management and Budget for final review and publication is expected soon.

Final regulations affect whether a controlled foreign corporation is a related person under attribution rules.

Comments address concerns and recommendations regarding proposed regulations addressing section 382 built-in gains and losses.

The IRS has published final section 6050Y regulations requiring reporting of sales and acquisitions of certain life insurance contracts.

New IRS enforcement campaign targeting the section 965 transition tax compliance indicates a likely increase in section 965 audit activity.

Revenue Procedure 2019-43 supersedes Rev. Proc. 2018-31, providing procedures to change accounting methods with automatic consent.

The IRS released long-awaited guidance outlining how former S corporations should source distributions between S corp and C corp earnings.

IRS to retain regulations treating some related party debt as equity, but will propose rules easing one of the regulations’ harshest rules.

Proposed rules limit the impact and reduce the reporting burden caused by tax reform changes to CFC ownership rules.

A federal district court agreed with the IRS that an S corporation’s AAA balance resets to zero following a switch to C corporation status.

IRS has finalized safe harbor provisions that rental real estate enterprises may use to qualify as a trade or business for section 199A.

Final bonus depreciation rules similar to previously proposed rules, uncertainty remains for certain transactions.

Final and re-proposed regulations released by the Treasury and IRS address important factors for 100% bonus depreciation.

Tax Court allows ordinary business bad debt deduction, rejecting argument that loans not secured by real property were nonbusiness loans.

Passthroughs that have applied the Proposed (not final) GILTI regulations must notify their partners or shareholders to avoid penalties

Rev. Proc. 2019-37 offers procedures for accounting method changes to comply with proposed regulations under sections 451(b) and 451(c).

The much anticipated proposed regulations, under Reg. section 1.451-3, implement section 451(b) and affect nearly every taxpayer.