A common cross-border reorganization can doom eligibility for the valuable gain exclusion without thoughtful planning.

John Sapp, CPA, vice president, brand ambassador, Drake Software, discusses how artificial intelligence (AI) can be a powerful tool in the tax and accounting profession.

Current developments in S corporations This annual update covers recent developments relating to S corporations, including IRS relief for common inadvertent S election lapses; the transfer of ...

A Joint Committee on Taxation report’s language raises questions about the running of the statute of limitation for liability for the Sec. 965 transition tax.

The taxation of Division I college sports may change once universities begin paying athletes directly, which will be permitted under a settlement of antitrust litigation against the NCAA and major ...

The Eighth Circuit, affirming a district court, held that because a wife had no property interest in a home owned by her husband that was sold in a judicial sale to satisfy his federal tax debts, she ...

David Winslow, CFP, managing director, Wealth Management, Choreo, discusses why building relationship-based advice platforms and leveraging strategic partnerships have become essential for firms ...

Although the deadline for filing a challenge to an IRS employment status determination is nonjurisdictional, an employer’s facts did not warrant equitable tolling, the Tax Court held.

If tax-exempt entities invest in energy projects through partnerships, careful consideration should be given to allocations under the respective partnership arrangements to avoid any detrimental ...

While the IRS has discretion to provide relief, Sec. 7508A(d) provides a mandatory tax deadline postponement. In either case, the ‘lookback’ limitation period for refunds remains a concern.