Capital Gains Treatment for Dividends from Foreign Corporations
Sec. 1(h)(1) generally provides that an individual taxpayer’s net capital gain for any tax year is subject to a prescribed...
IRS will accept duplicate dependent returns submitted with an IP PIN
Dec 19, 2024
The IRS will accept certain e-filed returns that claim dependents who have already been claimed on another taxpayer’s return, a...
Cleaning Up Intercompany Debt
Dec 16, 2024
An intercompany loan between related corporations may be recharacterized as an equity contribution by the companies’ shareholders, resulting in a...
IRS Increases Special Per Diem Rate for Business Travel
Nov 25, 2024
The special per diem rates that a taxpayer may use in substantiating travel and business expenses under the per diem...
Like-kind Exchanges of Real Estate: Back to Basics
Nov 21, 2024
The ability to defer taxes on exchanges of like-kind property dates back to the Revenue Act of 1921, P.L. 67-98....
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