Tag: business tax
New Partnership Reporting Requirement: Negative Tax Basis Capital Account Information
The IRS now requires partnerships to report each partner’s tax basis capital on their respective…
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Final Regulations Remove Two-Year Deferral of Advance Payments for Inventoriable Goods
On July 11, 2019, the IRS and Treasury released final regulations removing Section 1.451-5 of…
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IRS Proposed Regulations for Opportunity Zones
Opportunity Zones is a tax reform provision that creates an attractive set of tax incentives…
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Proposed FDII Regulations Provide Taxpayers With Guidance
Effective for tax years beginning after December 31, 2017, corporate taxpayers that engage in certain…
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IRS to Keep Ruling on Section 355 Transactions After Pilot Program Ends
The pilot program has been significant for taxpayers seeking greater certainty on the tax consequences…
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Eight Key Business Tax Planning Opportunities for 2019
More than a year after sweeping federal and state tax reform were enacted, businesses of…
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Final Regulations of Section 199A
On January 18, 2019, the Department of the Treasury (Treasury) and Internal Revenue Service (IRS)…
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Calculating Nondeductible Employee Parking Expenses
Employer business deductions for qualified transportation fringes ended in 2018. The 2017 tax reform known as…
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Act Now to Ensure Your Eligibility for Paid Family Leave Tax Credit
Section 45S of the Internal Revenue Code provides a tax credit for employers who provide…
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2018 Year-End Tax Planning for Businesses
Businesses of all sizes, across all industries, have been impacted by the monumental changes to…
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