Final partnership audit regs: Administrative Adjustment Requests (AARs)
TD 9844, 12/21/2018; Reg § 301.6221(a)-1; Reg § 301.6222-1; Reg § 301.6225-1; Reg § 301.6225-2; Reg § 301.6225-3; Reg § 301.6226-1; Reg § 301.6226-2; Reg § 301.6226-3; Reg § …
Final centralized partnership audit regs: consistency requirement
TD 9844, 12/21/2018; Reg § 301.6221(a)-1; Reg § 301.6222-1; Reg § 301.6225-1; Reg § 301.6225-2; Reg § 301.6225-3; Reg § 301.6226-1; Reg § 301.6226-2; Reg § 301.6226-3; Reg § …
Final centralized partnership audit regime regs: scope
TD 9844, 12/21/2018; Reg § 301.6221(a)-1; Reg § 301.6222-1; Reg § 301.6225-1; Reg § 301.6225-2; Reg § 301.6225-3; Reg § 301.6226-1; Reg § 301.6226-2; Reg § 301.6226-3; Reg § …
Prop regs explain determination of foreign partner’s gain or loss from sale or exchange of partnership interest
Preamble to Prop Reg REG-113604-18; Prop Reg § 1.864(c)(8)-1, Prop Reg § 1.897-7 Proposed Regs: Gain or Loss of Foreign Persons from Sale or Exchange …
Automatic consent procedures for insurance company changing basis of computing reserves under TCJA
Rev Proc 2019-10, 2019-2 IRB In a Revenue Procedure, IRS has provided the procedures under Code Sec. 446 and Reg § 1.446-1(e) for an …
Moves that will maximize the new deduction for pass-through income
For tax years that begin after Dec. 31, 2017 and before Jan. 1, 2026, noncorporate taxpayers that meet certain requirements …
Supreme Court won’t review 50% owner’s liability for trust fund penalty
U.S. v. Commander, (CA 3 5/25/2018) 121 AFTR 2d 2018-1861, cert denied 12/3/2018 The Supreme Court has declined to review a …
Tax Court denies deductions and costs of goods sold claimed by medical-marijuana dispensary
Patients Mutual Assistance Collective Corp., et al., (2018) 151 TC No. 11 The Tax Court has denied a California medical-marijuana dispensary’s …
Proposed business interest regs: C corporation rules
Preamble to Prop Reg REG-106089-18; Prop Reg §1.163(j)-4, Prop Reg §1.163(j)-5, Prop Reg §1.163(j)-11 IRS has issued proposed regs under Code Sec. 163(j), as …
Applicable Federal Rates for December
Rev Rul 2018-30, 2018-49 IRB The Applicable Federal Rates for December 2018 are reproduced below. Table 1 Applicable Federal Rates …