The IRS said Friday that it is providing relief from certain penalties imposed solely for failure of a partnership with unrealized receivables or inventory items to furnish Part IV of Form 8308, ...

Q How can CPAs add value to business owner clients? A CPAs are often the primary adviser to business clients. While it can be easy for a CPA to fall into a pattern of tax compliance and related ...

Without a delay, “millions of small business owners become accidentally and unknowingly delinquent in their compliance,” reads the letter, signed by CEO Barry Melancon, CPA, CGMA.

The Supreme Court held that a corporation’s stock redemption obligation was not a liability that reduced the corporation’s value for estate tax purposes. The IRS issued guidance for recipients of ...

This second part of an annual update examining developments in estate, trust, and gift taxation covers recent court cases, proposed regulations, and other IRS guidance on estate tax. The penalty for ...

To get through the rigors of tax season, CPAs depend on their tax preparation software. Here's how they rate the leading professional products.

The IRS, citing earlier problems e-filing a new form reporting S corporation owners’ basis, has granted relief to certain farmers and fishermen who missed their March 1 filing deadline. stock and debt ...

In addition to the guidance on the plan, the letter recommends that Treasury and the IRS continue pursuing tax simplification. IRS commissioner Danny Werfel promised “marked improvement” for the ...

The Tax Adviser is a monthly publication of the American Institute of CPAs, providing tax practitioners with timely, in-depth, practical, and comprehensive information on federal and state tax ...

This item discusses the requirements for a valid Sec. 754 election and then highlights some of the reasons for those late or missed elections. The IRS has issued temporary and proposed regulations ...