Results for "K-2 and K-3"
Sort By
White House makes recommendations on digital asset transactions
A presidential working group’s report advocates the United States implement the OECD’s Crypto-Asset Reporting Framework, an international reporting regime, as well as guidance by the IRS and Treasury.
Prop. regs. issued on new qualified tips deduction
The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.
Trust distributions in kind and the Sec. 643(e)(3) election
This article explores the strategic use of this election, highlighting its potential to optimize tax outcomes for both trusts and beneficiaries while cautioning against its pitfalls.
AICPA tax policy and advocacy successes: 2025 highlights
The AICPA’s Tax Division volunteer committees and technical resource panels can point to many positive results last year from its advocacy to Treasury, the IRS, and Congress for law changes and administrative guidance.
Prop. regs. would make permanent safe harbor for furnishing information on Sec. 751 property
Proposed regulations would provide permanent relief from certain reporting requirements related to sales or exchanges of partnership interests in partnerships owning inventory or unrealized receivables.
Buy/sell agreements for S corporations
These common instruments raise special considerations in the S corporation context.
Managing tax practices in response to new legislation
Firms can follow these guidelines to position themselves as the trusted advisers clients need to navigate the many tax law changes in H.R. 1.
Practical tax advice for businesses as a result of the OBBBA
H.R. 1, P.L. 119-21, the law commonly known as the One Big Beautiful Bill Act (OBBBA), contains provisions of special interest to business taxpayers. This article summarizes some of them and offers tax planning tips.
Digital asset transactions: Broker reporting, amount realized, and basis
Final regulations provide comprehensive guidance for tax reporting of transactions involving these increasingly common assets, and the IRS has granted transition relief in key areas.
Tax-advantaged ABLE accounts for disabled individuals
The accounts help persons with disabilities pay for qualified disability expenses.
Notice 2025-27 provides interim guidance on corporate AMT
The notice provides an optional interim simplified method of determining whether a corporation is an applicable corporation for purposes of the corporate AMT and relief from the Sec. 6655 penalty for underpayment of estimated tax with respect to a corporation’s corporate AMT liability.
Sec. 382 and exceptions to the segregation rules
Determining whether an ownership change under Sec. 382 has occurred can hinge on understanding the shareholder aggregation and segregation rules.
Comparing and contrasting business tax strategies
Using the correct expensing strategy for items of real and personal property enables taxpayers to obtain the maximum tax benefits.
Current developments in taxation of individuals: Part 2
This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending April 2025.
Partnership recapitalization: Lender admittance without liability reduction
The consequences under Subchapter K and Sec. 1001 must be considered in a debt modification in which a lender takes an equity position in a debtor partnership and there is no reduction in principal.
Outlier or beginning of a trend? Illinois redefines investment partnerships
With its 2023 gain-nonrecognition law, the state is welcoming more nonresident investors.
Proposed regulations issued on retirement catch-up contributions
The rules implement the SECURE 2.0 Act’s changes increasing the contribution limit for individuals age 60 to 63 and requiring that certain highly compensated employees make their catch-up contributions on a Roth basis.
Are you doing all you can to keep the cash method for your clients?
A passthrough entity business cannot use the cash method of accounting if it is classified as a syndicate. This article discusses this rule and ways a passthrough entity business that is currently not a syndicate can avoid being reclassified as one and losing the use of the cash method.
The role of REITs for foreign investors in US real estate
Foreign investors with U.S. real property interests seeking to reduce their tax burden may find real estate investment trusts useful.
Guidance on research or experimental expenditures under H.R. 1 issued
The revenue procedure advises taxpayers how to make various elections, file amended returns, and change accounting methods as provided under Section 70302 of the new law.
