An intercompany loan between related corporations may be recharacterized as an equity contribution by the companies’ shareholders, resulting in a constructive dividend to the shareholders. This article focuses on a recent Tax Court case involving the proper characterization of purported intercompany loans between two S corporations.
This article summarizes the key features of the direct-pay election for the advanced manufacturing credit, which allows taxpayers to treat the credit as a direct payment against their federal income tax.
Clint Costa, Senior Wealth Strategist, Choreo, discusses how CPAs can add value to business owner clients.
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
