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
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IRS Appeals Chief Shares Game Plan Given Staffing Cuts
Despite staffing losses and a hiring freeze, IRS Independent Office of Appeals Chief Liz Askey is “cautiously optimistic” that her …
IRS Adopts New Definition of Premium Tax Credit ‘Coverage Month’
The IRS has finalized a rule to amend the definition of a “coverage month” for the purposes of calculating the …
New Jersey Governor Murphy’s Budget Contains New Tax Proposals
By David Engel On February 25, 2025, Governor Phil Murphy introduced his budget for the fiscal year 2026. The new …