IRS to Remove Partnership Basis Shifting Transaction of Interest Regs
The IRS announced its intention to issue a forthcoming notice of proposed rulemaking that will remove recently finalized regs identifying certain partnership …
Tim Shaw
Tim Shaw covers developments from the IRS and tax organizations for Thomson Reuters, including issues impacting taxpayer service, compliance, and technology.
Tim previously worked at Tax Analysts on Tax Notes Today State.
He can be reached at tim.shaw@thomsonreuters.com.
Posts by this author
Pushback Against Trump Plan to End IRS Direct File
Editor’s Note, 4/18/2025: Article updated with additional quote from Economic Security Project. Lawmakers and tax policy organization officials sounded off …
Tax Pros Talk IRS Modernization Setbacks Due to Workforce, Funding Cuts
Former government officials, practitioners, and tax law and policy experts are in lockstep with their collective worries about the ramifications …
IRS Drops 9 ‘Unnecessary’ Guidance Items; Treasury Scraps Financial Regs
As part of the Trump administration’s government-wide push for deregulation and smaller overall workforce, the IRS and the Treasury Department …
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 …
House Republicans Advance Tax Reform Blueprint as Dems Rally Against Trump Plans
After a false start Wednesday, House Republicans approved the Senate-amended budget framework, 216-214, setting up tax reform via the reconciliation process. …
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Supreme Court: Defendants Facing SEC Fraud Charges Involving Penalties are Entitled to Jury Trial
The Supreme Court on June 27, 2024, in a 6-3 ruling in SEC v. Jarkesy, concluded that defendants facing SEC …
Roads, Bridges, and Water Systems: GASB Floats Early Views for Infrastructure Asset Reporting
The Governmental Accounting Standards Board (GASB) has unveiled a preliminary proposal to enhance financial reporting for state and local governments, …
The Hidden Truth: Why Cash Flow Statements Are Failing Investors
In the high-stakes world of finance, one critical aspect of corporate reporting has long been shrouded in mystery: cash flow. …