This annual update summarizes key changes advisers need to be aware of to ensure their clients’ estate plans remain effective and in line with their intentions. It covers developments in the estate ...
Andrew McKelvey was the founder and former CEO of Monster Worldwide Inc. As such, he held a large amount of Monster stock with zero basis. The amount of stock to be delivered was determined by a ...
A limited liability company (LLC) can change its entity classification for tax purposes by filing Form 8832, Entity Classification Election, or by incorporating under state law. These and other ...
The Tax Court held that a taxpayer had failed to meet the requirements for equitable tolling, so it did not apply to excuse the taxpayer’s late filing of its petition to the Tax Court for review of a ...
Editor: Jessica L. Jeane, J.D. The rules relating to aggregation and segregation are rules of convenience and presumption. However, if the corporation has actual knowledge of the ownership of certain ...
Editor: Jessica L. Jeane, J.D. Secs. 332, 351, 368, and 1036. As a consequence, full no-gain-or-loss rulings are available under Secs. 332 (corporate subsidiary liquidation into its corporate owner); ...
It is unfathomable to think of preparing a tax return without relying on software; likewise, tax consulting, estimates, and research begin with software or artificial intelligence (AI). The use of ...
In an audit conducted under the centralized audit procedures (established by the Bipartisan Budget Act of 2015 (BBA), P.L. 114–74), the IRS determines partnership adjustments, if any, at the ...
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