Will the New Partnership Related Party Basis-Shifting Rules Survive?
Practitioner’s Tax Action Bulletin® Advisory In June 2024, the IRS released a guidance package on related party basis adjustments (RPBAs) …
Nikki Sohal, CPA, Checkpoint News
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Can an Employee Make a Midyear Cafeteria Plan Election Change on Account of Financial Hardship?
QUESTION: One of our employees elected to contribute $2,000 to his health FSA for 2025 to help pay for anticipated …
Judge Blocks DOGE From Treasury Records
The Treasury Department, Office of Personnel Management (OPM), and the Department of Education are enjoined from disclosing personal identifying information …
Micro-Captive Transaction Reporting Penalty Relief Issued
Material advisors and certain participants in reportable micro-captive transactions will not face penalties for failing to file disclosure statements originally …