Editor: Rochelle Hodes, J.D., LL.M. Much has been written on tax issues associated with Sec. 751(b) and redemptions of partnership interests. Redemption of a partner’s interest in a partnership can ...

Drake Tax and Lacerte swapped places in that order compared to last year’s survey, with Drake Tax dropping 2 percentage points and Lacerte gaining nearly a point. Also notable was CCH Axcess Tax’s ...

This first part of a two–part series on taxpayer rights and Internal Revenue Manual (IRM) procedures addresses questions including whether an anticipated liability can be part of an installment ...

Tax practitioners often represent clients needing to request a federal tax refund. Most practitioners understand that for a client to qualify for a credit or refund, they must file a claim within ...

In Savage, 7 the Tax Court held that shareholders in two S corporations subject to Sec. 280E could not include wages paid to employees of those S corporations in the W–2 wages limitation amount 8 used ...

Because many companies operate in partnership form, mergers under Sec. 708(b)(2)(A) are common among today’s merger–and–acquisition deals. These transactions frequently occur when a private–equity (PE ...

In State of New Jersey v. Bessent, 2 the Second Circuit upheld IRS regulations that significantly limit the deductibility of contributions to state–administered charitable programs when taxpayers ...

All dissolving entities must file a final return with the IRS, which sounds simple, but taxpayers should remember that the due date of final returns is based on the date of dissolution (not the full ...

The deductibility of state and local (SALT) taxes has been at the center of tax debates since the original $10,000 cap on the individual deduction was introduced by 2017’s Tax Cuts and Jobs Act (TCJA) ...

If an individual plans to utilize their BEA, the following strategies can be considered. Outright taxable gifts: For those not interested in employing trusts or other complicated gifting strategies, ...

The case requires students to assume the role of an entry–level tax professional in a public accounting firm. Students are given the task of calculating the state income tax liability for a ...

Consolidation of CPA firms continues to advance at a steady pace. Advisers and consultants often play a key role in locating acquisition or merger targets, facilitating discussions and negotiations, ...