Fiscal year corporations seeking to carry back certain net operating losses gain reason to hope from Committee members’ letter.
New guidance requires remote seller sales tax collection effective Oct. 1, 2018; collection to be on prospective basis.
Regulations implementing the BBA rules were revised to conform to the Technical Corrections Act of 2018, other revisions also made.
Court holds that fuel tax credits which reduce an excise tax liability also reduce the attributable cost of goods sold deduction.
Second Circuit says 10-year statute of limitations on refunds applies only where taxpayer claims foreign tax credit and not deductions.
Initial thoughts, observations and insights on several key areas of the new pass-through deduction proposed regulations.
Good news and bad news…ESBTs qualify for the section 199A deduction but anti-abuse provisions would curtail use of multiple trusts.
Tax Court denies S corporation’s deductions claimed for its shareholders’ expenses; reason and requirement for payment determinative.