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Section 965 basis adjustment elections due May 6, 2019

Section 965 basis adjustment elections due May 6, 2019

Final section 965 regulations extend the deadline to make, or amend a previously made, basis adjustment election to May 6, 2019.

  • Adam Chesman
  • |
  • February 20, 2019
IRS provides safe harbor method for bonus depreciation on autos

IRS provides safe harbor method for bonus depreciation on autos

Revenue procedure 2019-13 provides a safe harbor for depreciating passenger autos that qualify for bonus but are limited by section 280F.

  • Tracy Watkins, John Charin
  • |
  • February 18, 2019
Virginia bill updates IRC conformity and addresses federal tax reform

Virginia bill updates IRC conformity and addresses federal tax reform

The bill decouples from the SALT deduction cap, increases the standard deduction and addresses GILTI and 163(j) income.

  • Steve Arluna, Amol Jain, Rich Gowen
  • |
  • February 18, 2019
IRS reaffirms prior ruling on investment advisors and section 382

IRS reaffirms prior ruling on investment advisors and section 382

IRS provides favorable view of investment advisors in making a critical determination for survival of NOLs following a bankruptcy.

  • Nick Gruidl
  • |
  • February 18, 2019
IRS Identity protection PIN program expansion

IRS Identity protection PIN program expansion

The IRS has expanded its voluntary IP PIN program to taxpayers residing in seven additional states.

  • Patti Burquest, Rebecca Warren, Cindy Hull
  • |
  • February 12, 2019
Deadline to file section 965 transfer agreements extended to March 7

Deadline to file section 965 transfer agreements extended to March 7

Taxpayers can avoid accelerating section 965 deferred transition tax payments if they file agreement by March 7, 2019.

  • Ramon Camacho, Adam Chesman
  • |
  • February 07, 2019
LB&I announces FY19 strategic goals

LB&I announces FY19 strategic goals

The IRS’s Large Business & International group has provided a list of its strategic goals for fiscal year 2019.

  • David Click, Alina Solodchikova, Whitney Brady
  • |
  • February 01, 2019
Taxpayers subject to 965 must use new forms

Taxpayers subject to 965 must use new forms

The Internal Revenue Service has released final Section 965 forms, schedules and instructions for taxpayers to use this filing season.

  • Adam Chesman, Jill Dambrine
  • |
  • January 29, 2019

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