The IRS issued guidance regarding amended Sec. 162(m), which limits the allowable deduction for remuneration paid by any publicly held corporation to a covered employee to $1 million.
C Corporation Income Taxation
The order announcing the withdrawal says it is being done “to allow time for the reconstituted panel to confer on this appeal.”
Foreign-derived intangible income deduction: Tax reform’s overlooked new benefit for U.S. corporate exporters
One new opportunity created by the TCJA is the foreign-derived intangible income deduction in Sec. 250(a).
The IRS issued proposed regulations on the Sec. 965 transition tax that requires U.S. shareholders of deferred foreign income corporations to pay tax on post-1986 deferred income.
This item discusses provisions of the TCJA that seek to curb the erosion of the U.S. tax base.
With the increased use of stock acquisitions, buyers must correctly apply the Sec. 382 limitations, including the additional analysis to determine the impact of NUBIG and NUBIL.
In the typical closely held business context, the TCJA’s reduction of corporate tax rates to a flat 21% is far from a panacea.
The Ninth Circuit reversed a Tax Court decision invalidating a cost-sharing regulation that requires allocation of stock-based compensation costs between related parties.
A successor law firm was given credit for the employment tax payments of its predecessor under the doctrine of equitable recoupment.
This discussion provides insight into planning opportunities to avoid the trap of unwinding a dividend.
This item explores whether the toll charge might be treated as a recognized built-in gain under Sec. 382(h).
Some incentives used by state and local governments to attract corporations will now likely be income to the recipient corporation.
This article discusses how the TCJA altered corporations’ responsibilities and the potential compensation implications.
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.
Tax treatment of individual owners of bitcoin and other virtual currencies held for personal use or investment
Tax preparers will need to be proactive in helping their clients identify and report any potentially taxable transactions.
The IRS issues guidance on business interest limitation under the new tax act.
The owner of a hotel and restaurant complex was not entitled to capital gains treatment under Sec. 1234A for a deposit it retained after a would-be buyer terminated a contract to purchase the complex.
While businesses involving the performance of services in the health care field were generally understood as not qualifying for the Sec. 199A deduction, further analysis could provide a favorable result.
Two Code provisions, Sec. 162 and Sec. 165, offer a potential deduction for a taxpayer who has property that has been damaged by a casualty.
Numerous rules and restrictions govern the timing of deductibility of bonuses accrued in one year and paid in another.