The disparate tax treatment between trusts and individuals has grown even more pronounced than it was before the TCJA was enacted.
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This article provides an overview of the rules defining a dependent and addresses the issue of a child’s receipt of Supplemental Security Income.
Proper advance planning is imperative to maximize the benefits of the TCJA provisions.
Byrle Abbin, CPA, J.D., a respected, knowledgeable, and outspoken mentor to many estate, gift, and trust tax professionals, died on March 19, 2019. He was 87. He joined the AICPA in 1960 and continued to contribute his intelligence, ideas, efforts, and time to the profession and to many professionals for almost 60 years.
This article discusses the new items practitioners should be aware of.
This article lists the changes together, along with some unexpected nuances.
This article discusses several key factors that CPAs and benefit plan advisers should consider to help successfully integrate plans during a merger or acquisition.
IRS guidance is needed to determine items of business income, gains, losses, and deductions to arrive at the amount of excess business losses.
This article discusses a few key things practitioners should know about FBAR cases.
This article discusses changes that might affect clients that are divorced, are in the process of divorcing, or that have prenuptial or post-nuptial agreements.
This article discusses the modifications made to Sec. 174 and Sec. 41, which will affect taxpayers’ R&D tax credit claims for tax years after Dec. 31, 2021.
The passthrough of S corporation losses to the extent of the shareholder’s basis in his or her stock and debt can be beneficial, but the resulting reduced basis debt may lead to taxable income on repayment of the debt.
Effectively navigating transfer-pricing regulations may be less about avoiding taxes and more about making smart decisions.
Taxpayers with undisclosed offshore accounts would be wise to take advantage of the lesser known IRS voluntary disclosure process.
A recent Tax Court case highlights pitfalls frequently encountered by small businesses that engage in related-party transactions without appropriate planning.
Financial institutions need to remain vigilant and periodically update their compliance systems to ensure they remain fully compliant with the law.
Three recent cases provide tips to decide if it’s worth the time and effort to appeal to the Tax Court.
Form 1040SR would be similar to Form 1040EZ, except that anybody age 65 and older may use it.
Foreign-derived intangible income deduction: Tax reform’s overlooked new benefit for U.S. corporate exporters
One new opportunity created by the TCJA is the foreign-derived intangible income deduction in Sec. 250(a).
The California Superior Court determined that all income, including California-source income, is subject to the apportionment formula.