A common cross-border reorganization can doom eligibility for the valuable gain exclusion without thoughtful planning.

To encourage investment in solar energy (and other alternative energy sources), the Internal Revenue Code offers a credit to taxpayers who install solar energy equipment. Specifically, the taxpayer ...

This article discusses the step-transaction doctrine, the three tests used to determine if it applies, and advice for taxpayers to help avoid an IRS challenge of the tax treatment of a series of ...

The M&A market is poised to regain its pre-COVID-19 activity levels as many business owners seek to exit closely held businesses or explore alternatives. One popular transaction that could emerge is ...

Guide to expensing HVAC costs Heating, ventilation, and air conditioning (HVAC) replacement costs can be significant expenses for businesses that own or lease real estate. Find out about how to ...

Closely held corporations must test whether the personal holding company tax applies and what measures to take to avoid it.

The Fifth Circuit’s decision in Grigsby, 86 F.4th 602 (5th Cir. 2023), emphasizes the need for taxpayers to clearly define business components when preparing and documenting their Sec. 41 credit.

Every fall, students all over the country set off to attend various colleges and universities. With the rising cost of higher education, many of these students are looking forward to receiving some ...

This article focuses on the potential criminal consequences that can arise when a business fails to collect or pay over withheld tax.

This article explains the procedures and tax compliance issues that fiduciaries face before domestic trust or estate distributions are paid or allocated to foreign beneficiaries.

Keeping a “scorecard” of the weight of authorities on a particular position can be helpful to determine the objective merits of a tax position.

The impact of community property laws on tax issues is vast and complex. Advisers must be mindful of this when learning about their clients, whose geographical history may be as important to consider ...