Gains & Losses

IRS withdraws portions of Subchapter C nonrecognition rules

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.

Sec. 1234A and Termination Fees

This item provides a brief history of existing tax law in this area and IRS guidance and a summary of the recent developments.

Statute of Limitation for Tax Carryovers

It is not unusual for a taxpayer to make an error on a return that results in a misstatement of a net operating loss or a credit that is then carried forward. These mistakes might not be noticed until after the statute of limitation is closed.

Newsletter Articles

SPONSORED REPORT

Get your clients ready for tax season

With the extended 2017 tax filing season drawing to a close, now is the time to get your practice and your clients ready for the 2018 season.

PRACTICE MANAGEMENT

2016 Best Article Award

The winners of The Tax Adviser’s 2016 Best Article Award are Edward Schnee, CPA, Ph.D., and W. Eugene Seago, J.D., Ph.D., for their article, “Taxation of Worthless and Abandoned Partnership Interests.”