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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‘When Workers Cash Out’: FASB Panel Launches Review of ESOP Buyback Warnings
When uncertainty hits, employees don’t always sit tight. They cash out. That reality — people wanting their money when headlines …
House Committee Moves on Yet Another Tax Administration Bill
On Wednesday, the House Ways and Means Committee advanced a bipartisan bill that would require the IRS to adopt modern …
Self-Reporting Misconduct Can Be Beneficial for Practitioners, OPR Says
Tax practitioners who self-report Circular 230 violations may avoid harsher sanctions and qualify for favorable settlements, the IRS’ Office of …