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 ...

Although the general rules for how partners are taxed on distributions are relatively straightforward, many subtleties and exceptions can lead to missteps. An early election into the partnership audit ...

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

Many factors must be considered when electing S status for a new corporation or converting an existing C corporation to ensure a timely election. This item discusses how a back-to-back loan is a ...

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 ...

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

The Tax Adviser is a monthly publication of the American Institute of CPAs, providing tax practitioners with timely, in-depth, practical, and comprehensive information on federal and state tax ...

In Musselwhite, T.C. Memo. 2022-57, the Tax Court held that a taxpayer’s losses from the sale of four lots (real property) were ordinary in nature, as opposed to capital.

In Musselwhite, T.C. Memo. 2022-57, the Tax Court held that a taxpayer’s losses from the sale of four lots (real property) were ordinary in nature, as opposed to capital.

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