Ideas & Insights

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

UK government provides relief from DAC6, reducing the scope of reporting for UK intermediaries with cross-border transactions.

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

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

The IRS provided long-awaited guidance for taxpayers anxious to take advantage of the NOL provisions in the CARES Act.

Recent guidance provides that certain deadlines, including the allowable time to invest in a QOF, are now extended because of COVID-19.

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

As businesses renegotiate debts in the aftermath of COVID-19, it is critical to understand whether the debt is considered publicly traded.

Accelerating worthless stock deductions on an insolvent subsidiary without disposing of the business to increase NOL carrybacks.

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 medical device tax is set to resume on Jan. 1, 2018, however a House bill was introduced to delay the tax another five years.