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Congress passes bill requiring IRS to clarify math error notices
The AICPA praised the Senate passage of the bill, saying it will enhance IRS operations and improve the taxpayer experience.
Technology and tax standards: Understanding new SSTS Section 1.4 — Reliance on Tools
AICPA members in tax practice must adhere to the updated Statements on Standards for Tax Services, including in their use of such emerging resources as artificial intelligence.
IRS ruling clarifies treatment of R&D when computing the FDII deduction
IRS rules research and development services U.S. entities provide to their foreign parent principal company may be characterized entirely as foreign-derived deduction eligible income purposes.
Leadership in tax practice: Inspiring teams and driving growth amid industry change
Amid turbulence in the tax profession, firm leaders can impart clarity, empathy, and inspiration to inculcate lasting loyalty and success.
Current developments in taxation of individuals: Part 1
This update surveys recent federal tax developments involving individuals, including
court cases, rulings, and guidance issued during the six months ending April 2025.
Preserving the limitation statute for ERC claims
The IRS often denies employee retention credit claims by a Letter 105-C notice of disallowance, which can risk taxpayers’ losing a refund due to the statute of limitation.
Global tax deal could hurt US companies, says letter requesting OECD guidance
A letter from the Association of International Certified Professional Accountants addresses guidance and recommendations on the Pillar Two framework co-existing with U.S. tax rules for U.S. multinational enterprises in a side-by-side system to the OECD.
AI is transforming transfer pricing
Mimi Song, COO, Exactera, discusses how AI can improve transfer pricing compliance.
From practitioner to influencer: Managing the risks of online content for tax professionals
Practitioners must exercise awareness of how their tax-related social media and other online posts may implicate professional standards.
Practical considerations for taxpayers and advisers following Loper Bright and Corner Post
Taxpayers and advisers should reckon with the two Supreme Court decisions when evaluating tax return positions that may conflict with existing administrative guidance.
State compliance for multitiered partnerships: Planning, communication, and execution can avoid common mistakes
Strategic planning and proactive compliance are key to fulfilling these often complex filing requirements across multiple jurisdictions.
Results of recent academic research may aid practitioner planning
Five tax research articles published in the past year in academic journals provide potentially valuable insights for practitioners.
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.
IC-DISC commission payment provisions
Interest charge domestic international sales corporations offer tax benefits, but taxpayers must carefully follow their requirements.
Tax Court addresses dueling motions to dismiss
The court granted the IRS’s motion because the petition was untimely and denied the taxpayer’s contending that the Service’s deficiency notices were invalid.
Qualified small business stock: The trap for foreign entities restructuring into a US corporation
A common cross-border reorganization can doom eligibility for the valuable gain exclusion without thoughtful planning.
IRS clarifies that Appeals case memos should be shared with taxpayers upon request
National Taxpayer Advocate Erin Collins wrote Tuesday in her blog that the IRS reminder of the language in the Internal Revenue Manual is a “meaningful step toward transparency.”
Current developments in S corporations
This annual update covers recent developments relating to S corporations, including IRS relief for common inadvertent S election lapses; the transfer of clean-energy credits; and other cases, rulings, and regulations.
Paid student-athletes: Tax implications for universities and donors
The taxation of Division I college sports may change once universities begin paying athletes directly, which will be permitted under a settlement of antitrust litigation against the NCAA and major collegiate athletic conferences. This article discusses some of the yet-to-be-resolved tax issues for schools and donors.
