Lack of detail in IRS CDP determination didn’t affect court’s decision
Hinerfeld, TC Memo 2019-47 The Tax Court has held that a case law rule—that a court in dealing with an administrative …
Thomson Reuters Tax & Accounting News
Chairman Clayton: Companies Should Provide More Disclosure on Human Capital Management
SEC Chairman Jay Clayton wants public companies to step up and provide more extensive information about how they manage their …
Partnership was not a domestic partnership in outbound transfer of intangibles
Chief Counsel Advice 201917007 In a redacted Chief Counsel Advice (CCA), IRS has determined that it had the authority under Reg …
THOMSON REUTERS HONORED AS BRONZE STEVIE AWARD WINNER IN 2019 AMERICAN BUSINESS AWARDS
May 1, 2019 – Thomson Reuters was named the winner of a Bronze Stevie® Award in the New Product & …
THOMSON REUTERS HONORED AS GOLD STEVIE AWARD WINNER IN 2019 AMERICAN BUSINESS AWARDS
May 1, 2019 – Thomson Reuters was named the winner of a Gold Stevie® Award in the New Product & …
THOMSON REUTERS HONORED AS BRONZE STEVIE AWARD WINNER IN 2019 AMERICAN BUSINESS AWARDS
May 1, 2019 – Thomson Reuters was named the winner of a Bronze Stevie® Award at The 17th Annual American …
Court: lawsuit settlement payment was part corporate deduction, part employee expense
Ferguson, TC memo 2019-40 The Tax Court has held that, where a custom homebuilder conducted his business via several corporations and …
IRS releases draft forms to compute qualified business income deduction
Draft 2019 Form 8995 (Qualified Business Income Deduction Simplified Computation) Draft 2019 Form 8995-A (Qualified Business Income Deduction) IRS has …
Proposed regs would tax income otherwise allocable to nonresident alien owner of ESBT
Preamble to Prop Reg REG-117062-18; Prop Reg §1.641(c)-1, Prop Reg §1.1361-1 IRS has issued proposed regs that would ensure that the income …
‘Post-Effective Date Review’ Starting This Year for Revenue and Lease Standards
The FASB plans to start its “post-effective date review” in 2019 on new accounting standards for revenue and leasing, to …
IRS: no child credit where parent has religious objection to obtaining child’s SSN
Program Manager Technical Advice 2019-002 In Program Manager Technical Assistance (PMTA), IRS has concluded that it can properly deny the …
Guidance explains interaction of SALT deduction and home expense deduction
Program Manager Technical Advice 2019-001 Program Manager Technical Advice 2019-001 In a Program Manager Technical Advice (PMTA), IRS has explained …
IRS issues foreign financial account reminders including Apr. 15 FBAR due date
IR 2019-63, 4/4/2019; Fact Sheet 2019-7 IRS has issued a news release and fact sheet that contain numerous reminders for taxpayers …
IRS issues updated offer in compromise forms
Form 656 Booklet, Offer in Compromise IRS has issued an updated version of Form 656-B, the “Form 656 Booklet, Offer …
CA 2 reverses taxpayer-unfriendly holding on overpayments determined by the Tax Court
Borenstein, (CA 2 4/2/2019) 123 AFTR 2d ¶2019-581 The Court of Appeals for the Second Circuit has reversed a taxpayer-unfriendly holding …
IRS withdraws proposed regs on allocating consideration and basis recovery in corporate transactions
Withdrawal of Prop Reg REG-143686-07; The Allocation of Consideration and Allocation and Recovery of Basis in Transactions Involving Corporate Stock …
IRS announces phase-out of credit for GM plug-in electric drive motor vehicles
IR 2019-57, 3/26/2019; Notice 2019-22, 2019-15 IRB In an Information Release and Notice, IRS has announced that General Motors (GM) has …
IRS finalizes FATCA regs on requirements for sponsoring entities
TD 9852, 3/22/2019; Reg. § 1.1471-1, Reg. § 1.1471-4, Reg. § 1.1471-5, Reg. § 1.1472-1 TD 9852, Chapter 4 Regulations Relating …