Recently issued final regulations on partnership debt-for-equity exchanges contain a liquidation value safe-harbor method for valuing the partnership interest received in exchange for the cancellation of debt.
April 2013 - The Tax Adviser
PRACTICE & PROCEDURES
Protecting Communications and Documents From IRS Summons Enforcement
This article examines the rules and definitions that form the basis for the practitioner-client and the work product privileges and identifies certain measures that can increase the protection of sensitive client information.
BANKRUPTCY & INSOLVENCY
Bankruptcy and the Trust Fund Recovery Penalty
When a corporation fails to remit the withheld taxes to the government, the IRS looks through the corporation to the individual or individuals who are responsible for the failure.