C Corporation Income Taxation
The IRS issued final regulations on when fines and penalties paid to a government are not deductible by a taxpayer, including defining when a payment counts as restitution, which may be deductible.
A personal service corporation must generally use a calendar year, but it can choose a fiscal year in certain circumstances.
The IRS finalized regulations governing the treatment of net operating losses by consolidated groups after recent legislation changed the rules.
The IRS issued the 2021 standard mileage rates for use in computing the deductible costs of operating an automobile for business, charitable, medical or moving expense purposes. The rates all decreased from 2021 to 2020.
The IRS issued final rules on the $1 million executive compensation limits enacted by the law known as the Tax Cuts and Jobs Act, finalizing proposed rules with a few changes in response to comments.
The IRS finalized proposed rules on the disallowance of deductions for transportation fringe benefits, which was enacted by the law known as the Tax Cuts and Jobs Act.
Among the expiring provisions are the lower 7.5% AGI floor for medical expense deductions and the deduction for qualified tuition and related expenses.
The IRS issued regulations to address the changes made to the meals and entertainment deduction under the TCJA.
This item discusses how businesses can qualify for
incentives in the housing and construction industries and how tax preparers can assist them in claiming these tax benefits.
The built-in gains tax applies to C corporations that make an S corporation election, and it can
be assessed during the five-year period starting with the first tax year for which the S election is effective.
The IRS finalized rules disallowing deductions for most business entertainment expenses and distinguishing them from business food and beverage expenses that remain deductible.
This item discusses tax issues related to the forgiveness of PPP loans.
The IRS issued final and proposed regulations covering a variety of issues involving deductions and credits for foreign taxes.
The IRS issued guidance for taxpayers who pay otherwise deductible expenses with PPP loan funds, stating that even if the payment and PPP loan forgiveness happen in different tax years, the expenses are not deductible.
This article presents some of the transfer-pricing considerations that blockchain companies must address as they grow and expand across borders.
The article discusses the June 2020 proposed regulations and how they compare to the prior guidance in Notice 2018-99.
The IRS finalized regulations governing the treatment of net operating losses by consolidated groups after recent legislation changed the rules.
With the Oct. 15 corporate tax filing deadline looming and the global pandemic still affecting taxpayers and practitioners, several states have provided one-month filing relief for their corporate Oct. 15 deadlines.
The IRS finalized rules implementing provisions of the law known as the Tax Cuts and Jobs Act, disallowing deductions for most business entertainment expenses and distinguishing them from business food and beverage expenses that remain deductible.
If a corporation is terminating or intending to convert to an LLC taxed as a partnership, the liquidation regulations will apply.
