The IRS has issued Rev. Proc. 2016-33 to provide additional details on how a business entity can become certified under the IRS's new certified professional employer organization (CPEO) program.

The IRS recently released a new version of the Form 3115, "Application for Change in Accounting Method," along with 23 pages of instructions.

In Notice 2017-09, the IRS provided guidance on the safe harbor for de minimis and inadvertent errors in amounts reported on information returns.

The IRS announced Sept. 7 that beginning in 2016, it would no longer accept checks in an amount of $100 million or more, citing an inability to process checks of that size.

Section 61 generally states that gross income includes all income from all sources, but Section 118(a) provides an exception for contributions to the capital of a corporation.

Senate Republicans have been involved in the high-level discussions, but have been less aggressive in formulating their own proposals.

Proposed regulations released concurrently with the temporary regulations provide rules regarding the treatment as U.S. property of property held by a CFC in connection with certain transactions involving partnerships.

Oklahoma's legislative session adjourned on May 26, with Gov. Mary Fallin signing a series of measures as a means to temporarily resolve the state's significant budget issues.

An employer-sponsored health plan provides minimum value if the plan's share of total allowed costs of benefits provided to an employee is at least 60%.

The IRS has issued temporary (TD 9768) and proposed (REG-127561-15) regulations implementing a new voluntary certification program for professional employer organizations (PEOs).

The year 2016 may best be remembered as a time when many fundamental issues were set up for dynamic resolution in the coming year.

Top Senate Budget Committee members announced an agreement last week to write a budget that accommodates large tax cuts.

Senate Democrats released a public letter last week offering to work with Republicans on tax reform as long as the bill is revenue neutral and does not use the reconciliation process or provide a tax cut...

In Petersen v. Commissioner, 148 T.C. No. 22 (June 13, 2017), the Tax Court addressed the application of Section 267(a)(2) to an S corporation that maintains an employee stock ownership plan (ESOP).

Ultimately, the Tax Court rejected Marvel's arguments that the plain language of Section 108 proved that Congress intended that consolidated groups use a separate-entity approach.

New final and temporary regulations under Section 385, addressing the treatment of related-party debt, significantly narrow parts of the controversial proposed regulations released in April.

Treasury and the IRS recently issued final regulations (T.D. 9737) under Section 851(c), which relates to regulated investment company (RIC) controlled group rules.

Trump has embraced the concept of a ‘border adjusted' tax, though he stopped short of specifically endorsing the border adjustability provision at the heart of the House Republican tax plan.

On the individual side, Trump proposed a full deduction of the "average cost of child care spending" and a repeal of the estate tax.

Senate Finance Committee ranking minority member Ron Wyden, D-Ore., has released a discussion draft of legislation that would overhaul the tax rules on retirement accounts.