The IRS has issued guidance postponing the deadline for making an election to claim Hurricane Sandy losses in a prior year until Oct. 15, 2013.

The IRS has proposed new regulations (REG-142561-07) under Treas. Reg. Sec. 1.1502-77 for determining the agent for a consolidated group.

The Cumulative List informs plan sponsors of requirements the IRS has specifically identified for review in determining whether Cycle A plans have been properly updated to reflect law changes.

The IRS has released a draft agreement for foreign financial institutions entering into an FFI agreement under the Foreign Account Tax Compliance Act.

The IRS recently issued its final report summarizing the results from the 401(k) compliance check questionnaire.

The IRS has issued temporary (T.D. 9654) and proposed (REG-121534-12) regulations providing guidance on the identification of certain stock of a foreign corporation that is disregarded in calculating ownership of the foreign corporation for purposes of determining whether it is a surrogate foreign corporation under the inversion rules of Section 7874.

Section 162(m) limits a public corporation's deduction for a taxable year for compensation paid to certain executives to $1 million for each executive.

The IRS Large Business & International Division has announced that it will delay the start date of new and controversial information document request procedures until March 3, 2014.

By all accounts, lawmakers should have all they need to begin writing the first comprehensive tax reform bill since 1986.

On May 2, 2017, the Michigan Tax Tribunal granted a passive holding company's motion for summary disposition and held that it did not have the requisite nexus with the city of Detroit for purposes of the CDIT.

On May 31, 2017, the Minnesota Tax Court overturned as unconstitutional the taxation of certain trusts as Minnesota "resident trusts" and held that application of the statutory definition of "resident trust"...

On April 10, 2017, New York enacted its 2017-18 budget legislation which extends the state's top personal income tax rate for an additional two years and closes several tax loopholes.

The Ohio Board of Tax Appeals (BTA) held that a taxpayer's sales were properly sitused to Ohio for purposes of the Commercial Activity Tax because the "ultimate destination" of the goods sold by the taxpayer...

President Obama last week called for extending the 2001 and 2003 tax cuts for one year for taxpayers with less than $200,000 in income if single and less than $250,000 if filing jointly.

Senate Finance Committee Chair Ron Wyden, D-Ore., is expected to hold a committee markup of a bill extending now-expired tax provisions — so called "tax extenders" — in early April.

Lawmakers plan to return after the elections for a "lame duck" legislative session to address provisions like the expired tax "extenders," alternative minimum tax relief and the scheduled expiration of the 2001 and 2003 tax cuts.

In a technical advice memorandum, the IRS held that the sole means for a trust to establish material participation is through the activities of fiduciaries.

The IRS has created a self-correction procedure designed to help recipients of missed retirement plan rollovers retirement plan distributions who inadvertently miss the 60-day time limit...

The Senate Finance Committee last week abandoned plans to mark up legislation that would accelerate information return deadlines, change preparer standards and give the IRS authority to regulate return preparers.

The Supreme Court on May 28 declined to hear the appeal of a historic rehabilitation tax credit partnership that claimed the Third Circuit Court of Appeals erred when it held the partnership’s private-sector equity investor was not a bona fide partner and could not claim the rehabilitation tax credits.