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Senate Finance Committee members' letter on technical corrections

Senate Finance Committee members' letter on technical corrections

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

  • Stefan Gottschalk, Tonya Williams
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  • August 20, 2018
New Jersey to enforce economic sales tax nexus following Wayfair

New Jersey to enforce economic sales tax nexus following Wayfair

New guidance requires remote seller sales tax collection effective Oct. 1, 2018; collection to be on prospective basis.

  • Harlan Kwiatek, Catherine Del Re, Michael  Giannettino
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  • August 15, 2018
IRS reproposes partnership audit regime implementing regulations

IRS reproposes partnership audit regime implementing regulations

Regulations implementing the BBA rules were revised to conform to the Technical Corrections Act of 2018, other revisions also made.

  • Ben Wasmuth, Olga Kouznetsova
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  • August 15, 2018
Court determines Exxon must reduce COGS for fuel tax credit

Court determines Exxon must reduce COGS for fuel tax credit

Court holds that fuel tax credits which reduce an excise tax liability also reduce the attributable cost of goods sold deduction.

  • Trina Pinneau, Tom Windram
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  • August 14, 2018
10-year refund statute applies only to foreign tax credits

10-year refund statute applies only to foreign tax credits

Second Circuit says 10-year statute of limitations on refunds applies only where taxpayer claims foreign tax credit and not deductions.

  • Ramon Camacho, Kyle Brown
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  • August 13, 2018
A closer look at the new pass-through deduction proposed regulations

A closer look at the new pass-through deduction proposed regulations

Initial thoughts, observations and insights on several key areas of the new pass-through deduction proposed regulations.

  • Don Susswein, Jack Clarizio, David Droessler
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  • August 10, 2018
Implications of the 199A proposed regulations on planning with trusts

Implications of the 199A proposed regulations on planning with trusts

Good news and bad news…ESBTs qualify for the section 199A deduction but anti-abuse provisions would curtail use of multiple trusts.

  • Charlie Ratner, Rebecca Warren
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  • August 10, 2018
Corporate deductions for shareholder expenses denied

Corporate deductions for shareholder expenses denied

Tax Court denies S corporation’s deductions claimed for its shareholders’ expenses; reason and requirement for payment determinative.

  • Stefan Gottschalk
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  • August 09, 2018

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