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 ...

In an S corporation, employee fringe benefits paid on behalf of a 2% shareholder are subject to special rules.

Proposed regulations would extend to PFICs the aggregate treatment of U.S. partnerships and S corporations for Subpart F income.

This item discusses the Sec. 41 research credit and how statistical sampling can be used to efficiently satisfy the fourpart test that governs whether research activities qualify for the credit. In ...

The preeminent, authoritative, professional tax journal for CPAs, providing them with timely, in-depth, practical, and comprehensive information that helps CPAs maintain their identification with and ...

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

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.

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

Restructuring an existing QSub in an attempt to qualify for an ordinary deduction is prohibited and might result in an unfavorable deferral of loss. The potential effect of the built-in-gain tax is ...