The Bipartisan Budget Act of 2018 has many tax provisions, including retroactive extensions of a number of tax credits.
Not just large but also medium-size and even smaller companies can more easily take a RTC now that the IRS allows multiple tax years under one statistical sample study.
A new directive allows taxpayers to use R&D costs reported on FASB ASC financial statements as the starting point for computing QREs.
The IRS concluded that a taxpayer could deduct the unamortized debt-issuance costs related to its existing debt upon its exchange for new debt.
This column summarizes the federal tax law changes under reform enacted in December.
Companies may initially have difficulty determining the effects of the new federal tax law on their income tax reporting.
Safe harbor eliminates need for private letter ruling for some REIT and RIC distributions of stock and cash
The IRS established a safe harbor allowing distributions of stock to be treated as a distribution of property under Secs. 301 and 305(b) for publicly offered REITs or publicly owned RICs, as long as certain conditions are met.
Income from receipt of carbon sequestration credits relating to timberlands is qualifying REIT income
The IRS ruled it would consider income recognized by a REIT in connection with the receipt of carbon sequestration credits to be income qualifying the taxpayer to be a REIT.
Treasury and the IRS withdrew parts of proposed net value regulations that would require an exchange of net value for transactions intended to qualify under Secs. 351 and 368 and a distribution of net value for transactions intended to qualify under Sec. 332.
In some circumstances, a taxable stock sale may make more sense.
All companies should maintain supporting documentation for payments.
New regulations issued by the SEC enable individual investors to invest in startup companies through equity crowdfunding.
The tax reform bill that Congress is expected to vote on this week contains numerous changes that will affect businesses large and small.
The House of Representatives reapproved tax reform legislation on Wednesday, sending the bill to President Donald Trump for his signature.
The Senate voted early today in favor of the Tax Cuts and Jobs Act, H.R. 1, which the House of Representatives had approved Tuesday.
Meeting the active trade or business requirement is critical to ensuring a corporation leasing farmland qualifies for a tax-free divisive reorganization.
Because there is no clear statutory guidance for how a bankruptcy judge determines if a trustee’s request to apply substantive consolidation should be granted, each case is different.
Cooperative corporations can shield net income from taxation by returning it to the patrons in the form of qualified patronage dividends.
The IRS is introducing an 18-month pilot program under which it will once again issue letter rulings concerning the general income tax effects of stock distributions under Sec. 355.
To reward and retain key employees, companies often look for ways to extend ownership or the feeling of ownership.