Ideas & Insights

Taxpayers should familiarize with Biden’s plan, remain vigilant for developments and position themselves to act at the appropriate times.

IRS modifies guidance on wages that are includible when computing section 199A deduction for taxpayers with short tax years.

Final regulations on the section 199A deduction and the DPAD for certain specified co-ops closely mirror guidance in proposed regulations.

Final regulations address self-charged interest and trading partnerships, but reserve on tiered partnerships and other items.

Final carried interest regulations ease rules for capital interest allocations as well as related party transfers.

New final regulations include rules for CFCs, depreciation/amortization ‘add-back recapture’ and self-charged interest.

The regulations largely mirror the proposed regulations with additional, mostly favorable, clarifications for taxpayers.

Learn why the IRS is increasing its scrutiny on high net worth athletes and entertainers, and what can be done before an audit.

The final regulations broaden the definition of real property compared to the more restrictive definition in the proposed regulations.

The IRS will release proposed regulations confirming the SALT deduction limit will not apply to entity-level taxes imposed on pass-throughs.

For corporations with NOLs that anticipate 2021 income, a change of fiscal year may mitigate the impact of the 80% NOL deduction limitation.

The CARES Act enacted a temporary suspension of the TCJA’s 80% limitation on the use of NOLs, this will impact FTC and ODL calculations.

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

New regulations under section 4968 provide favorable guidance to private colleges and universities subject to the excise tax.

The final regulations address the treatment of administration expenses and excess deductions on termination of an estate or trust.

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

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

State tax increases in various forms seem inevitable because of massive budget shortfalls caused by the pandemic and economic crisis.

IRS releases final and proposed regulations on the deduction for dividends from foreign corporations and related reporting rules.

Former Vice President Joe Biden’s tax plan features significant changes. Rates seem likely to rise, even if President Trump wins re-election