Robert Stack, deputy assistant secretary, International Tax Affairs at the Department of Treasury, recently said that the IRS is working to accept voluntary country-by-country (CbC) reports for the 2016 tax year.

The research and development (R&D) tax credit has been extended through 2013 as part of the American Taxpayer Relief Act of 2012, and the legislation makes several modifications in how the credit is computed for controlled groups and how acquisitions are treated.

The IRS released final regulations (T.D. 9779) eliminating the requirement for an individual to attach a Section 83(b) election to his or her individual income tax return for the year the election is made.

In a private letter ruling (PLR 201412002), the IRS ruled that certain costs incurred by a corporate taxpayer to settle a lawsuit, including settlement payments and legal fees, were deductible as ordinary and necessary business expenses under Section 162.

While full details on the integration plan are scant, the proposal is expected to include a deduction for dividends paid, with a nonrefundable withholding tax of 35% on both interest and dividends.

The IRS has issued final regulations (T.D. 9785) that define terms in the tax code describing the marital status of taxpayers.

The IRS Large Business and International Division updated prior guidance instructing its examiners under some circumstances to not challenge a taxpayer’s treatment of milestone payments made to investment bankers.

Form 8955-SSA is used by plan sponsors to notify the Social Security Administration, via a filing made with the IRS, of participants who have separated from service.

The Tax Increase Prevention Act extended 50% bonus depreciation for property placed in service in 2014 and extends the ability to claim unused alternative minimum tax credits in lieu of bonus depreciation.

The IRS recently released draft forms that employers will use to report on health coverage they offer to their employees.

The IRS has issued guidance (Notice 2012-74) providing the due dates for the various forms and procedures for the 2013 pharmaceutical industry fee year.

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.

The Social Security Administration has announced an increase in the Social Security taxable wage base in 2013 from $110,100 to $113,700.

The IRS has announced (Announcement 2012-16) it will continue to accept claims for telephone excise tax refunds requested on or before July 27, 2012.

Many employers that sponsor a retirement plan, such as a Section 401(k) plan, rely on a bank, broker, insurance company or similar party to provide them with the legal document that sets forth...

The IRS has announced that it plans to propose regulations allowing state and local retirement systems to cover employees of a charter school within a governmental plan under Section 414(d).

The Treasury Department recently announced that it will begin to wind down the myRA program after a review by the government found it not to be cost-effective.

On Aug. 11, the IRS published a revenue procedure (Rev. Proc. 2017-45) providing a set of procedures that a publicly offered REIT or a publicly offered RIC can follow to ensure that certain distributions...

The Sixth Circuit Court of Appeals ruled on Oct. 1, 2014, that the taxpayer wasn't entitled to approximately $445 million in additional interest from the government.

The IRS provided relief (Announcement 2012-44) to victims of Hurricane Sandy who participate in qualified retirement plans.