The Tax Adviser8d
AICPA applauds Treasury's suspension of BOI enforcement
The AICPA said Treasury is "headed in the right direction" by suspending enforcement of beneficial ownership information (BOI) reporting requirements and urged it to extend reporting deadlines to at ...
The Tax Adviser15d
Payments for law violation are not deductible restitution
A recent Chief Counsel Advice memo determined that the deductions were disallowed as fines or penalties under Sec. 162(f).
The Tax Adviser15d
On DRD, the IRS seeks to have its cake and eat it too
The plain language of Sec. 245A disallowed a dividends-received deduction for a controlled foreign corporation, the IRS ...
The Tax Adviser15d
The CFC/PFIC overlap rule after aggregate treatment
Investors holding less than 10% of a controlled foreign corporation (CFC) are generally no longer shielded from double taxation under both the passive foreign investment company and CFC rules.
The Tax Adviser15d
New IRS form for partners receiving property distributions
Form 7217, Partner’s Report of Property Distributed by a Partnership, debuted for 2024, intended to apprise the IRS of factors in a partner’s basis computation.
The Tax Adviser15d
Using role playing in a tax classroom
Students role playing tax preparers and clients can thereby apply their tax knowledge interactively, inculcating critical real-world interpersonal skills.
The Tax Adviser15d
Transfer pricing: The C-suite needs to be informed
For the most part, the CEOs of large multinational corporations (MNCs) do not need to know much about tax issues. CEOs are already busy, charged with developing a vision and strategy for growth, ...
The Tax Adviser15d
States continue to tweak NOL provisions
Editor: Greg A. Fairbanks, J.D., LL.M. In response to federal changes to net operating losses (NOLs) and fluctuating fiscal conditions, several states have recently enacted noteworthy legislation that ...