Ideas & Insights

Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.

The IRS announced that December 31, 2020 will be the last date to submit tentative net operating loss carryback claims via fax.

Section 6662(i) 40% penalty is an enhancement of section 6662(b)(6). Failed approval of section 6662(b)(6) cannot be cured later.

Excise taxes can have a serious financial impact on business, yet many aren’t focused on the potential impacts.

PartnerSight is a cloud-based platform that delivers tax data in real time, providing powerful insights to make better investment decisions.

Chief Counsel Notice discusses frequent questions regarding settlement requirements for syndicated conservation easements.

IRS increases enforcement efforts and warns taxpayers to review reportable micro-captive transactions prior to October 15 tax deadline.

IRS has issued two campaigns for Life Insurers and issues regulations on the calculation of life insurance reserves under section 807(d).

SBA procedural guidance provides answers on how to navigate PPP loan changes in ownership; deals can now move forward with certainty.

The final regulations issued by the IRS provide guidance for meal and entertainment deductions under section 274.

IRS provides specific guidance through proposed IRM provisions to implement interim policy changes for supervisory approval of penalties.

IRS extended filing and paying deadlines and TTB updated disaster relief guidance for taxpayers affected by Hurricane Sally.

The IRS and Treasury released the final bonus regulations applicable to property acquired and placed in services after Sept. 27, 2017.

IRS to focus on taxpayer compliance with the documentation requirement to allocate and deduct success-based fees.

IRS extended filing and paying deadlines and TTB updated disaster relief guidance for taxpayers affected by Oregon wildfires.

New IRS guidance updates and clarifies the previous ASC 730 Directive for R&D credit claims of LB&I Taxpayers using U.S. GAAP rules.

The IRS released final regulations affecting S corporations that revoked their status in response to TCJA and lower C corporation tax rates.

Companies must minimize financial exposure and maximize their potential recoveries if their business clients face bankruptcy.

What are the top business issues and opportunities trending for middle market beauty sector companies in 2020?

Tax Court ruled rejected e-filing triggered three-year limitation statute despite omission of taxpayer’s personal identification number.