Court documents filed Monday showed that the government was ordered to rehire 24,000 workers across the 18 agencies, media ...

The Tax Adviser—the magazine of planning, trends, and techniques—reports and explains federal tax issues to tax practitioners.

The Tax Adviser—the magazine of planning, trends, and techniques—reports and explains federal tax issues to tax practitioners.

Acting IRS commissioner says the agency will use “existing appropriations” to remain open if Congress does not agree to a continuing resolution by the end of Friday.

Form 7217, Partner’s Report of Property Distributed by a Partnership, debuted for 2024, intended to apprise the IRS of factors in a partner’s basis computation.

The AICPA said Treasury is "headed in the right direction" by suspending enforcement of beneficial ownership information (BOI) reporting requirements and urged it to extend reporting deadlines to at ...

Editor: Greg A. Fairbanks, J.D., LL.M. Historically, domestic partnerships and S corporations that owned 10% or more of a controlled foreign corporation (CFC) could rely on the so-called CFC/PFIC ...

For the most part, the CEOs of large multinational corporations (MNCs) do not need to know much about tax issues. CEOs are already busy, charged with developing a vision and strategy for growth, ...

Between November 2001 and September 2005, Raju Mukhi created three foreign entities, including Sukhmani Partners II Ltd., a foreign corporation for U.S. tax purposes. From 2002 through 2013, Mukhi did ...

Editor: Greg A. Fairbanks, J.D., LL.M. The IRS Office of Chief Counsel released Chief Counsel Advice memorandum (CCA) 202436010 on Sept. 6, 2024, concluding that a controlled foreign corporation (CFC) ...

The Tax Court held that a taxpayer was not entitled to a Sec. 165 casualty or theft loss deduction for his lost investment in a company of which he was president for six months and later was its ...