Tax Updates

A partnership that distributes a partial interest in partnership property must apportion the tax basis in the property between the...

Under the consistency rule in Temp. Regs. Sec. 1.861-9T(f)(3)(iv), for purposes of calculating its foreign tax credit, a taxpayer could...

By a vote of 51 to 50, the U.S. Senate on Sunday passed a budget reconciliation bill, H.R. 5376, now known...

A bankruptcy court held that a couple’s tax return filing allowed a related tax debt to be discharged in bankruptcy,...

Transfer-pricing disputes have a tendency to protract themselves over a number of years and discrete stages. For one thing, the uncertainties...