Income Tax Treatment of Loyalty Point Programs
Taxpayers administering funds for loyalty point programs on behalf of multiple parties are often perplexed about the appropriate federal income...
Recapture of Foreign Loss does not Exempt Other Gain from Tax
Jul 23, 2024
A multinational telecommunications company could not avoid recognizing gain on $2.8 billion of a $3.8 billion total gain from its...
IRS Announces Delay for Form 1042 E-Filing Requirement
Jul 18, 2024
Based on comments from withholding agents about difficulties in transitioning to the electronic filing of Form 1042, Annual Withholding Tax Return...
What Kind of Deduction is a Hobby Expense?
Jul 12, 2024
In a case of first impression for the Eleventh Circuit, the court affirmed a Tax Court holding that expenses of...
The Self-Rental Rules: Risks and Opportunities
Jul 9, 2024
The COVID-19 pandemic ushered in erratic price behavior for commercial real estate, with many markets quickly reaching new highs and...
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