The IRS is providing relief from penalties imposed solely for failure to furnish Part IV of Form 8308 for partnerships by Jan. 31, 2025, if a partnership meets certain requirements.

Q How can CPAs add value to business owner clients? A CPAs are often the primary adviser to business clients. While it can be easy for a CPA to fall into a pattern of tax compliance and related ...

Without a delay, “millions of small business owners become accidentally and unknowingly delinquent in their compliance,” reads the letter, signed by CEO Barry Melancon, CPA, CGMA.

The IRS is providing relief from penalties imposed solely for failure to furnish Part IV of Form 8308 for partnerships by Jan. 31, 2025, if a partnership meets certain requirements.

The IRS is providing relief from penalties imposed solely for failure to furnish Part IV of Form 8308 for partnerships by Jan. 31, 2025, if a partnership meets certain requirements. The IRS issued ...

Without a delay, “millions of small business owners become accidentally and unknowingly delinquent in their compliance,” reads the letter, signed by CEO Barry Melancon, CPA, CGMA.

Businesses can explore several options to mitigate the interest deduction limitation under the Tax Cuts and Jobs Act.

The Supreme Court held that a corporation’s stock redemption obligation was not a liability that reduced the corporation’s value for estate tax purposes. The IRS issued guidance for recipients of ...

The payments are subject to capitalization, but the period and manner are unclear. The 12-month rule under Regs. Sec. 1.263(a)-4(f)(2) may help. Foreign corporations operating in the United States ...

Understanding the amount and composition of an LLC member’s amount at risk is crucial to determining the Sec. 465 limitation on losses that may be claimed. Allocations to a partner may follow the ...

To get through the rigors of tax season, CPAs depend on their tax preparation software. Here's how they rate the leading professional products.