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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IRS Issues Interim Guidance on Prohibited Foreign Entities for Energy Credits
The IRS has provided interim guidance on how to determine whether electricity-producing qualified facilities, energy storage technologies, or eligible components …
What Is an Eligible Rollover Distribution?
QUESTION: Our company sponsors a 401(k) plan. As we review the plan’s rollover procedures, we want to confirm our understanding …
Billy Long Out as IRS Chief After 2 Months
The commissioner carousel at the IRS continues to leave a revolving door atop the agency, as President Trump is moving …