Mondaq USA: Tax
Miles & Stockbridge
The IRS recently released guidance acquiescing to the Ninth Circuit's opinion that unmarried domestic partners are each individually entitled to deduct interest on up to $1,000,000 of home acquisition debt...
Baker Newman Noyes
Several pieces of legislation signed into law during 2015 changed the due dates for certain taxpayers' Income Tax and Information Returns effective for taxable years beginning after December 31, 2015.
McDermott Will & Emery
In Altera Corp v Commissioner, 145 TC No. 3, the Tax Court, in a unanimous reviewed opinion, held that regulations under Section 482 requiring parties to a QCSA to include stock-based compensation...
McDermott Will & Emery
Moments ago, the United States House of Representatives (House) passed the Mobile Workforce State Income Tax Simplification Act of 2015 (H.R. 2315) Mobile Workforce State Income Tax Simplification Act of 2015 (H.R. 2315) by voice vote
Withers LLP
In the uncertain economic environment post Brexit, US citizens and green card holders living in Britain may have questions regarding how their US tax and reporting obligations may have changed.
McDermott Will & Emery
In today's tax environment and with the potential monetary awards to whistleblowers under Internal Revenue Code (Code) Section 7623...
Dentons
A recent decision by the Israeli Supreme Court has cleared the way for FATCA implementation by lifting a temporary injunction on the disclosure of information to U.S. authorities under IGA.
Dentons
The case involved the appropriate burden of proof the Internal Revenue Service must meet when the IRS asserts a willful failure to file penalty for the Report of Foreign Bank and Financial Accounts.
Thompson Coburn LLP
Controversial proposed regulations issued by the Treasury and the IRS on August 4, 2016, would change rules for valuing interests in business entities of which a person or a family owns at least one-half.
TMF Group
From 1 January 2017, jurisdictions that have not brought their Intergovernmental Agreement (IGA) into force will no longer be seen to have an IGA, in the eyes of the US Department of Treasury.
Miller & Chevalier Chartered
Ultimately, the proposed regulations are helpful but continue to overlook some areas where further binding guidance in regulations would be helpful.
Miller & Chevalier Chartered
The IRS announced in interim guidance that it would amend Section 20.1.7 of the Internal Revenue Manual to provide a methodology for the calculation of intentional disregard penalties under Section 6721...
Seyfarth Shaw LLP
On August 24th, the IRS released guidance that permits an automatic waiver of the sixty-day rollover period for retirement plan distributions by allowing individuals to self-certify that they qualify for the waiver under any of 11 common circumstances.
Akin Gump Strauss Hauer & Feld LLP
On August 2, 2016, the Internal Revenue Service and the Treasury Department issued proposed regulations intended to substantially limit the use of discounts in valuing intra-family transfers...
Brown Smith Wallace
As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines.
Brown Smith Wallace
The IRS has announced that it will not dispute the holding of a federal appeals court decision regarding the limit on mortgage interest deductions under Code Sec. 163.
Brown Smith Wallace
A married couple a college professor and a librarian, failed to persuade the Tax Court that their deductions for home internet service cell phones satellite television and other items were deductible.
Brown Smith Wallace
The IRS has warned taxpayers of automated phone scam telephone calls and new tactics used by scammers demanding tax payments on gift cards.
McDermott Will & Emery
Following a one day bench trial, Cook County Circuit Judge Thomas Mulroy ruled in favor of Treasury Wine Estates in Illinois False Claims Act litigation filed by the law firm of Stephen B. Diamond, PC.
McDermott Will & Emery
The United States Government Accountability Office (GAO) recently released a report regarding how the Internal Revenue Service (IRS) communicates tax guidance to the public.
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Foley & Lardner
On August 22, 2016, the IRS released Rev. Proc. 2016-44, which provides new guidance on the treatment of "management contracts" for purposes of the restrictions on use of property financed with tax-exempt bonds.
Miller & Chevalier Chartered
A recent decision of the U.S. District Court for the Central District of California should remind employers to regularly verify the actions of payroll service providers regardless of the provider's reputation and the longevity of the relationship.
Brown Smith Wallace
Given the complexity of the Affordable Care Act (ACA), it should come as no surprise that many employers occasionally stumble in their compliance efforts. The
Baker Botts LLP
On July 22, 2016, the Internal Revenue Service (the "IRS") and the Department of the Treasury ("Treasury") released proposed and temporary regulations under Section 50 of the Internal Revenue Code of 1986, as amended (the "Code")
McDermott Will & Emery
The Internal Revenue Service recently issued revised draft Forms 1094-C and 1095-C and related instructions for use for the 2016 reporting year.
Schnader Harrison Segal & Lewis LLP
When Congress enacted the S corporation statutes, the only entity capable of making an S election was a state law corporation, and the statutes are built on that premise.
Miller & Chevalier Chartered
Ultimately, the proposed regulations are helpful but continue to overlook some areas where further binding guidance in regulations would be helpful.
Grant Thornton LLP
The IRS proposed regulations ( REG-103058-16) relating to information reporting of minimum essential coverage under Section 6055...
Miller & Chevalier Chartered
The IRS announced in interim guidance that it would amend Section 20.1.7 of the Internal Revenue Manual to provide a methodology for the calculation of intentional disregard penalties under Section 6721...
Grant Thornton LLP
The Michigan Court of Appeals has held that the Michigan Court of Claims erred when it failed to issue an order granting summary disposition in favor of International Business Machines Corp.
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