Ideas & Insights

Proposed regulations eliminate Reg. section 1.451-5, which provides a method of deferring revenue from advance payments.

New Jersey enacted GILTI conformity and various other corporation business tax changes; provided guidance on 965.

Treasury official states income from an SSTB exceeding the de minimis threshold would bar a taxpayer from taking the 199A deduction.

A “Special Update” to the IRS transition tax FAQs grants an extension of the deadline for filing section 965 transfer agreements.

Real Estate Roundtable’s Tax Policy Advisory Committee suggests liberalizations and clarifications to proposed regulations.

The IRS issued interim guidance on the deductibility of certain business meal expenses that are related to entertainment activities.

Some e-file software does not conform to IRS guidance for S corp shareholders wishing to make a 965(i) election, and they must paper file.

The IRS announces that it intends to extend the period in which to make a basis election under the transition tax regulations.

Planned proposed regulations to provide that accrued market discount is not includible in income under section 451(b).

IRS has issued Notice 2018-71 to address questions around claiming the new section 45S employer tax credit for family and medical leave.

Proposed regulations would require complex calculations and new record keeping to comply with new tax laws on offshore income.

Tax Reform 2.0 would make many popular items from the 2017 Tax Cuts and Jobs Act into permanent features of the tax code.

H.R. 6756, the American Innovation Act of 2018, increases the amount of start-up and organizational expenses a business can deduct.

Businesses are spared the effects of proposed regulations intended to curb charitable contributions made in exchange for state tax credits.

The IRS has recently issued Notice 2018-67, providing interim and transition rules for determining UBTI for separate trades or businesses.

Proposed regulations curtail state laws that circumvent the SALT deduction cap by crediting charitable contributions against state taxes.

A critical analysis of the government’s proposed regulations for the 20 percent deduction, with recommendations for possible improvement.

Rev. Proc. 2018-44 updates the automatic method change procedures to incorporate tax reform’s changes to section 481.

Notice 2018-68 offers initial guidance on the application of section 162(m), addressing TCJA changes to the several key provisions.

Fiscal year corporations seeking to carry back certain net operating losses gain reason to hope from Committee members’ letter.