Now that NOL carryforwards are unlimited for tax years beginning after Dec. 31, 2017, practitioners
should be rethinking the use of the waiver of NOL carryforwards under Regs. Sec. 1.1502-32(b)(4) in acquisitions of a company with NOLs by a member of a consolidated group.
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Reporting & Filing Requirements
Certified professional employer organization rules finalized
Certified professional employer organizations enter into contracts with employers to be treated as the employer for employment tax purposes and are subject to IRS rules in order to qualify as CPEOs and maintain that status.
Consolidated return regs. provide special return due-date rules for short tax years
This item discusses special return due-date rules for a target corporation’s short tax year when it joins a consolidated group.
Excise tax refunds for purchases of frequent flyer miles
Banks, hotel groups, large retailers, utilities, and car rental companies may be eligible for refunds of federal excise tax paid when purchasing frequent flyer miles from domestic airlines to use in reward and loyalty programs.
Rules for certified professional employer organizations finalized
Certified professional employer organizations (CPEOs) enter into contracts with employers to be treated as the employer for employment tax purposes and are subject to IRS rules in order to qualify as CPEOs and maintain that status.
Considering the SRLY rules and Sec. 382 in the post-TCJA world
The TCJA significantly broadened the application
of loss limitation rules.
Managing excess loss accounts
This item discusses how an ELA can occur and potential methods to minimize or eliminate these balances before they are recaptured into taxable
income.
Proposed GILTI regs. provide useful guidance on certain consolidated return issues
The proposed regulations effectively treat a consolidated group as a single entity for purposes of determining the sharing of tested loss.
Using R&D credits to reduce payroll taxes: An overlooked opportunity for startups
This article discusses who qualifies to take the credit, how to make the election, the calculation and allocation of the credit, and how to report it.
Third Circuit relies on Ilfeld doctrine to deny consolidated group deductions for duplicated losses
To satisfy the Ilfeld standard, the court noted that there is a presumption that regulations do not permit double deductions for the same loss.
Equitable recoupment applies to employment taxes of law firm
A successor law firm was given credit for the employment tax payments of its predecessor under
the doctrine of equitable recoupment.
Diesel particulate filters: Taxation and credits
This discussion focuses on the federal excise tax treatment of DPFs and potential fuel tax credits that may be claimed for fuel used to operate DPFs.
Key aspects of maintaining a global workforce
Employees should have overarching guidance for their global assignment that includes international assignment agreements.
Hidden insurance excise tax obligations arising from corporate chargebacks
When group policies are purchased from foreign insurance companies, there may be federal insurance excise tax issues.
An obstructed view: Broad anti-abuse standard for consolidated returns
This column examines the meaning of the standard and discusses whether the economic substance doctrine still should be applied to a transaction that does not run afoul of the “with a view” standard.
Sec. 108(i): Considerations for Electing Consolidated Groups
The regulations under Sec. 108(i) provide
special rules for consolidated groups.
Tax Ethical and Penalty Issues in the UTP Context: A Review After Five Years of Experience
This column reviews the advent of Schedule UTP, considers the applicable ethical rules, and offers some best practice tips for practitioners.
“Cadillac” Health Plan Excise Tax Delayed Until 2020
The so-called Cadillac plan excise tax is now scheduled to take effect in 2020.
Recognizing and Measuring Tax Benefits From Uncertain Tax Positions
Once all uncertain tax positions have been identified, FASB Accounting Standards creates a two-step process to recognize and measure the tax benefits arising from those positions.
Acquisition of Partnership Interest Constitutes an Expansion of Distributing Corporation’s Business
The IRS ruled that a distributing corporation’s
acquisition of an interest in a partnership was not an acquisition of a new or different business.
INDIVIDUALS
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 October 2025.
