Taxpayers may be subject to the risk that an IRS examination could increase (or create) a gift tax or estate tax liability many years after a gift is made. Practitioners can help clients limit this ...

Tax practitioners should be familiar with the special rules that apply and issues that can arise when an accounting method change is made while a taxpayer is under IRS examination.

The court refused to dismiss a taxpayer’s claim under Sec. 7431 against a company that employed an individual who made an unauthorized disclosure of the taxpayer’s tax return and information.

Further, these partnerships often invest in foreign entities. Many partners, especially limited partners, have no ability to direct the partnership’s operations and investment choices. Since foreign ...

Matthew Gotlin, CFA, MBA, Chief Investment Officer and Managing Director, Wealth Management, ChoreoMatt leads the firm’s ...

On March 25, 2020, the IRS announced the People First Initiative (IR-2020-59). The new initiative is aimed at helping taxpayers by providing relief on a variety of issues ranging from easing payment ...

The recommendations, sent Tuesday in a letter to Treasury and the IRS, include that the IRS expressly allow taxpayers to rely on proposed regulations until they are final. The receipt of an estate tax ...

Early Thursday morning, the House of Representatives passed the One Big Beautiful Bill Act by one vote. The bill had been amended by the Rules Committee, and it now goes to the Senate for ...

Sunday revote came after Republican fiscal hawks initially joined Democrats to sink the bill, which includes tax provisions approved by the House Ways and Means Committee last week. The bill would ...

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

The IRS may apply the step-transaction doctrine, a rule of substance over form, in a variety of taxpayer circumstances to deny tax benefits derived from a series of transactions that should more ...