Multinational companies should evaluate how these proposals will affect their financial statements and evaluate their preparedness if the proposal become required.

The First Circuit has vacated (Docket Nos. 11-2017 & 11-2033) the Tax Court opinion in Kaufman v. Commissioner (136 T.C. No. 13), denying a charitable deduction for the contribution of a façade easement on a Boston townhouse.

The IRS on Dec. 12 issued http://www.irs.gov/pub/irs-drop/rp-14-63.pdf Rev. Proc. 2014-63, which consolidates prior guidance related to the types of cases that may be mediated in appeals.

Effective immediately, the IRS has changed the address for filing the duplicate copy of a completed Form 3115, "Application for Change in Accounting Method," for an automatic method change request.

The IRS has clarified and updated guidelines (Rev. Rul. 2012-18) first presented in 1995 (Rev. Rul. 95-7) concerning FICA taxes imposed on tips and the notice and demand rules under Section 3121(q).

The IRS has published transition relief that extends taxpayers' ability to claim payments for the biodiesel mixture credit and the alternative fuel credit on Form 8849 until July 1, 2013.

The IRS has concluded in a heavily redacted legal memorandum that a taxpayer improperly determined that a subsidiary was a net unrealized built-in gain company at the time of acquisition.

The IRS issued final regulations (T.D. 9783) that provide guidance relating to the minimum present value requirements that apply to certain defined benefit pension plans.

The IRS recently released two Revenue Procedures that provide a comprehensive update to the procedures for filing both automatic and non-automatic accounting method changes.

The IRS issued proposed regulations (REG-134016-15) that provide guidance under Treas. Reg. Secs. 1.355-2 and -9 to address concerns regarding the spinoff of too many nonbusiness assets relative to...

The IRS issued proposed regulations that would modify the definition of "acquiring corporation" for purposes of determining the location of earnings and profits.

The IRS proposed regulations ( REG-103058-16) relating to information reporting of minimum essential coverage under Section 6055...

The IRS has provided final and temporary regulations (T.D. 9717) on the allocation of the research and development (R&D) tax credit to members of a controlled group.

Section 6063 states that a partnership return must be signed by any one of the partners and that a partner’s signature is prima facie evidence that the partner is authorized to sign the return on behalf of the partnership.

The IRS ruled that a corporation that provides products and services to the pharmaceutical industry was engaged in a qualified trade or business for purposes of Section 1202.

In a private letter ruling (PLR 201505013), the IRS supplemented its previous ruling in PLR 201437013 and addressed issues related to a delay in the expected consummation of a spinoff.

The IRS expects to revise a number of existing user fees and to implement new user fees for some additional services in the "near future," the agency said.

During June 2017, the North Carolina legislature passed legislation that included various income tax and sales tax provisions as part of the state budget. Gov. Roy Cooper vetoed the state's budget bill...

The Senate recently voted 79–20 in a show of support for repealing the medical device excise tax, but legislation to actually repeal the tax still does not appear likely in the near term.

The IRS gave sponsors of individually designed government plans (Rev. Proc. 2012-50) the option to use either Cycle C or Cycle E as their second remedial amendment cycle for filing a determination letter application.