C Corporation Income Taxation

Reinstatement of the Superfund excise tax

This item addresses and summarizes the key provisions of the Infrastructure Act as it pertains to the reinstated Superfund tax, along with some taxpayer considerations related to the tax.

IRS rules on cancellation of debt of a disregarded entity

Taxpayers should strongly consider these letter rulings when trying to determine whether they want to structure a borrowing with a regarded entity as the legal borrower or whether they prefer to have a DRE be the legal borrower of the debt.

Shareholder’s forgiveness of insolvent corporation’s debt

A debt cancellation or forgiveness by a corporation’s shareholder is a common transaction, but some critical tax consequences are uncertain including the determination of any income from the cancellation of debtunder certain circumstances.

The research credit: Using statistical sampling

This item discusses the Sec. 41 research credit and how statistical sampling can be used to efficiently satisfy the fourpart test that governs whether research activities qualify for the credit.

Decoding the Senate Finance Committee’s Build Back Better text

The Senate Finance Committee has released language for its portion of the reconciliation bill, which some lawmakers would like to pass before Christmas. Here’s what you need to know about the timeline and the bill, which includes several key tax provisions.

Tax Insider Articles

DEDUCTIONS

Business meal deductions after the TCJA

This article discusses the history of the deduction of business meal expenses and the new rules under the TCJA and the regulations and provides a framework for documenting and substantiating the deduction.

TAX RELIEF

Quirks spurred by COVID-19 tax relief

This article discusses some procedural and administrative quirks that have emerged with the new tax legislative, regulatory, and procedural guidance related to COVID-19.