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The IRS Large Business and International Division (LB&I) issued a directive instructing examiners to discontinue exam activity and not begin new activity related to certain expenditures to maintain, repair or improve cable network property.

The Large Business and International division of the IRS recently issued a directive to its examining agents providing guidance for examining bad debt deductions under Section 166.

The framework represents a general agreement between the Trump Administration and House and Senate Republican leadership on the major pillars of tax reform.

Republicans in Congress advanced a number of narrow tax bills over the last several weeks in an effort to prepare as much tax legislation as possible for a last-ditch legislative push.

In an IRS Chief Counsel Advice (CCA) memorandum (CCA 201517006), the agency concluded that the restructuring of certain profits interests held by a general partner did not result in a taxable transaction.

The IRS allowed individual shareholders of an S corporation to increase their basis in the stock of the S corporation.

The Tax Court has ruled in ADVO, Inc. v. Commissioner that the domestic production activities deduction under Section 199 was not available for a taxpayer who did not have the benefits and burdens of ownership over the direct advertising materials.

The proposal was released as a discussion draft and follows the same general approach that former Senate Finance Committee Chair Max Baucus, D-Mont., used in a 2013 tax reform proposal.

Only one taxpayer may claim DPAD regarding a qualifying activity. Currently, the taxpayer with the benefits and burdens of ownership during the period in which the qualifying activity is performed is entitled to the deduction.

Do your partners (or co-owners) want to defer into retirement plans more than $60,000 annually – the current limit for contributions to plans such as 401(k) and profit sharing plans?

On Dec. 6, 2016, the IRS and Treasury issued temporary (T.D. 9800) and proposed (REG-129128-14) regulations under Section 901(m).

Global compliance and reporting can place heavy demands on your company's tax and finance function, while also creating risk and inefficiencies.

The IRS has issued guidance for employers (Notice 2013-8) on the retroactive increase in the amount of transit benefits that employees may exclude from income in 2012.

Handing the keys to a family member as you head out the door is business succession gone wrong, says Paul Coleman, national leader of succession and estate planning with Grant Thornton LLP.

Lawmakers this week renewed the fight over revenue and taxes as the debate continued over whether to reform the tax code.

ASU 2016-03, Effective Date and Transition Guidance – a consensus of the Private Company Council, amends all existing Private Company Council (PCC) alternatives...

Businesses that want to effectively recruit and retain employees know they need to offer and support leading-edge retirement benefits.