IRS suspends Sec. 355 active trade or business guidance pending study outcome
Rev Rul 2019-9, 2019-14 IRB In a Revenue Ruling, IRS has suspended two 1957 Revenue Rulings pending completion of a …
Bipartisan tax extenders and disaster tax relief introduced in the Senate
On February 28, Senate Finance Committee leaders introduced legislation to retroactively extend tax provisions that expired at the end of …
Employer can’t exclude the value of free meals, but free snacks are de minimis fringes
PLR 201903017 A Technical Advice Memorandum (TAM) concludes that an employer can’t treat free employee meals as excludable under the Code …
Tax Advocate addresses shutdown’s impact and need for IRS IT modernization
IR 2019-11, 2/12/2019 National Taxpayer Advocate Annual Report to Congress 2018 In her 2018 Annual Report to Congress, National Taxpayer …
IRS finalizes forms and instructions for base erosion tax
Form 8991, Tax on Base Erosion Payments of Taxpayers With Substantial Gross Receipts Instructions for Form 8991 IRS has issued …
IRS issues forms to make, and to revoke, partnership audit “push out” election
Form 8988, Election for Alternative to Payment of the Imputed Underpayment – IRC Section 6226 Form 8989, Request to Revoke …
Taxpayer with impermissible accounting method could use automatic consent procedure
CCA 201852019 201852019 In Chief Counsel Advice (CCA), IRS has concluded that an accrual method taxpayer, whose present method of …
Taxpayer failed “designer” test under energy efficient building allocation rule
Quebe (DC OH 1/25/2019) 123 AFTR 2d ¶ 2019-375 A district court has held that an electrical contractor did not qualify for …
Taxpayer didn’t show that it qualified as start-up company for research credit purposes
Quebe, (DC OH 1/17/2019) 123 AFTR 2d ¶2019-352 A district court has held that: a) a taxpayer mischaracterized the burden of …
Post-tax-year 2017 corporate AMT credit refunds won’t be sequestered
IRS Website: Effect of Sequestration on the Alternative Minimum Tax Credit for Corporations On its website, IRS has set out …