Ideas & Insights

LB&I’s compliance campaign focuses on taxpayer reporting of purchase price allocations in taxable asset acquisitions.

Revenue procedure allows treatment of qualified residential living facility operations as a section 163(j) real property trade or business.

In line with decades of case law and rulings, IRS ruling looks to benefits and burdens of ownership to determine tax ownership.

The IRS updated taxpayers on its operations status and recognized the delays in processing check payments due on July 15, 2020.

Notice 2020-56 extends until Dec. 31, 2020, the due date for CHNAs or implementation strategies due on or after April 1, 2020.

IRS explains taxability of Provider Relief Fund reimbursements made to health care providers pursuant to the CARES Act.

Section 4960 proposed rules add examples and clarity while generally following interim guidance and providing taxpayer-friendly exceptions.

Exempt organizations may carryback siloed NOLs to tax years beginning before 2018 and apply them to net unrelated business income.

Corporate taxpayers filing a consolidated return have an added layer of rules to navigate when carrying back a net operating loss.

The IRS issued guidance extending the time for taxpayers to file certain Form 3115s and Form 1128s to July 15, 2020.

Delaware notices advise companies to either participate in the state’s unclaimed property VDA Program or be subject to an audit.

Department issued compliance alert explains the sales and use tax collection responsibilities for marketplace facilitators and sellers.

The IRS released the electronic Form 1023 and guidance for mandatory use of the online application, effective February 1, 2020

Corporate income tax regulations provide procedures for pass-through entities to elect to be taxed as C corporations.

New legislation enacted regarding certain arrangements for paying employee health insurance premiums and medical expenses.