Many tax professionals overlook the opportunity to manage the decedent’s original tax basis for real estate assets that are recorded on their tax depreciation schedule before death.
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This column provides a summary of the bills enacted last year that included tax changes.
the Second Circuit held that the taxpayer did not waive the attorney-client privilege by sharing documents with a consortium of banks with which the taxpayer had a common legal interest.
Having an activity classified as passive is not a good result for most taxpayers since they cannot carry back or forward losses under the net operating loss rules.
This article summarizes the significant items in the Patient Protection and Affordable Care Act that affect individuals this filing season.
Despite IRS moves to curb corporate inversions, some multinational corporations still search for low-tax jurisdictions.
Changes include new restrictions, penalties, and due diligence requirements for practitioners and affect the child tax credit, the American opportunity credit, and the EITC.
Follow these tips for using the final tax return for tax planning post-mortem.
This year-end article offers a list of tasks to consider to get ready for the upcoming filing season.
The U.S. Tax Court recently issued an opinion focusing on the requirements for an organization to qualify for a tax exemption under Sec. 501(c)(3).
Without a tax practitioner’s ongoing planning and involvement, the benefits of tax-aware management are less likely to be achieved.
The guidance provides procedures to ensure consistency and efficiency in the IRS’s administration of the FBAR compliance program.
Recordkeeping and attention to the letter of the law should pay off in avoiding lost deductions.
It’s a good time to review which provisions might get a last minute reprieve and see what legislation is pending in Congress.
Here are some suggestions to help business clients reduce 2015 taxes by accelerating deductions into this year and delaying income until next year.
The question of whether an S corporation should be treated the same as a C corporation when its subsidiary corporation is insolvent has not been definitively answered.
A recent property tax case from the Tax Court of New Jersey should serve as a warning to tax-exempt medical centers and their tax advisers throughout the country.
For the past few years, the emphasis has been on lowering tax rates and broadening the base for revenue-neutral, comprehensive tax reform.
Without a tax professional’s being actively involved in planning, the benefits of tax-aware management are unlikely to be achieved.
The PPACA added a new 40% nondeductible excise tax on high-cost health coverage, commonly referred to as the “Cadillac tax.”