This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending April 2024.
INDIVIDUALS
SEPTEMBER 2024 - The Tax Adviser
GAINS & LOSSES
Lenders’ tax consequences of foreclosure
Third-party creditors holding defaulting loans need to understand calculating gain or loss and whether it is ordinary or capital in foreclosure and deed-in-lieu of foreclosure proceedings.
ADVERTISING SUPPLEMENT
Corporate Transparency Act
Charles Wismer, CEO, FincenFetch, discusses firms and FinCEN beneficial ownership information (BOI) report filing,
Tax Clinic
credits against tax
FOREIGN INCOME & TAXPAYERS
GAINS & LOSSES
INTERNATIONAL
partners & partnerships
procedure & administration
SPECIAL INDUSTRIES
COLUMNS
PERSONAL FINANCIAL PLANNING
TAX PRACTICE MANAGEMENT
STATE & LOCAL TAXES
CASE STUDY
employee benefits & pensions
Profits interests: The most tax-efficient equity grant to employees
By granting them a profits interest, entities taxed as partnerships can reward employees with equity. Mistakes, however, could cause challenges from taxing authorities.
