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April 2023 - The Tax Adviser

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  2. April 2023
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SPECIAL INDUSTRIES

The CHIPS Act’s semiconductor production credit

This article summarizes the key features of the new Sec. 48D advanced manufacturing investment tax credit and highlights key considerations for manufacturers of semiconductors and semiconductor manufacturing equipment.

TAX CLINIC

credits against tax

Inflation Reduction Act of 2022: Prevailing wage and apprenticeship requirements

employee benefits & pensions

The new PLESA under SECURE 2.0

expenses & deductions

Determining compensation deductions in M&A transactions

GROSS INCOME

A primer on cancellation-of-debt income and exclusions

partners & partnerships

Navigating partnership continuations

PRACTICE & PROCEDURES

Is a substitute for return a return? Understanding the statute of limitation for credits and refunds

STATE & LOCAL TAXES

PTE deduction: Timing issues for accrual-method taxpayers

TAX ACCOUNTING

Assessing the need for a valuation allowance

Improve fixed-asset management with technology

COLUMNS

TAX PRACTICE & PROCEDURES

The QAR: Handle with care

DC CURRENTS

Reportable transactions: A compliance update

CASE STUDY

Interaction of S shareholders’ loss limitations

TAX TRENDS

Distribution from 401(k) plan taxable to taxpayer with diabetes

Nonresident alien partner’s gain on inventory items sourced to US

TAX PRACTICE MANAGEMENT

Image of happy, sad and neutral smiley faces.

2025 tax software survey

AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.

Tax Clinic

IRS generally eliminates 5% safe harbor for determining beginning of construction for wind and solar projects

IRS proposes using NAICS to determine lines of business for certain fringe benefit exclusions

IRS rules that community trust and affiliated nonprofit corporation can file a single Form 990

Prop. regs. issued on new qualified tips deduction

IRS rules for first time that REIT’s income from markup on electricity from EV charging stations is rents from real property