Treatment of Digital Assets Transferred to Employees
The IRS has issued extensive guidance on treating payments to employees and other service providers as compensation, including how to...
Adequate Disclosure on Gift Tax Returns: A Requirement for More than Gifts
Jul 7, 2025
Professionals are currently advising clients amid the so–called “great wealth transfer”; new IRS campaigns focused on high–income/high–wealth taxpayers; and the approaching sunset of favorable...
New IRS form for partners receiving property distributions
Jun 10, 2025
The IRS released a draft form in summer 2024, with subsequent revisions and draft instructions, that partners will use, starting...
IRS reduces user fee for estate tax closing letters
Jun 6, 2025
The IRS issued interim final and proposed regulations Friday (T.D. 10031 and REG-107459-24) lowering the user fee for the Service to issue...
Deduction for Theft Loss and Legal Fees Denied
Jun 2, 2025
The taxpayer failed to substantiate that a theft occurred or, if it did, its tax year of discovery for his...
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