The IRS is providing relief from penalties imposed solely for failure to furnish Part IV of Form 8308 for partnerships by Jan. 31, 2025, if a partnership meets certain requirements.

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 ...

Businesses can explore several options to mitigate the interest deduction limitation under the Tax Cuts and Jobs Act.

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

A corporation qualifying for small business corporation status avoids both the administrative burden and the potential additional tax liability of the AMT. The federal excise taxes, tax credits, and ...

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 ...

In Musselwhite, T.C. Memo. 2022-57, the Tax Court held that a taxpayer’s losses from the sale of four lots (real property) were ordinary in nature, as opposed to capital.

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 IRS issued final, temporary, and proposed regulations intended to prevent abusive corporate inversion transactions.