Without a delay, “millions of small business owners become accidentally and unknowingly delinquent in their compliance,” reads the letter, signed by CEO Barry Melancon, CPA, CGMA.

This year marks the 50th anniversary of the enactment of the Employee Retirement Income Security Act of 1974, P.L. 93-406 (ERISA). While retirement plans existed and were subject to IRS rules well ...

On Sept. 12, 2024, Treasury issued highly anticipated proposed regulations (REG-112129-23) to address the application of the corporate alternative minimum tax (corporate AMT) imposed on an applicable ...

The AICPA Digital Assets Tax Task Force (DAT TF) has been monitoring digital asset transaction reporting closely, and on the same day the final regulations on broker reporting (T.D. 10000) appeared, ...

A single-member limited liability company can adopt a variety of tax classifications to fulfill desired business purposes, besides conferring limited liability protection on its owner. This item ...

The Sec. 737 rules can cause a member to recognize precontribution gain on contributed property where the value of property later distributed to that member exceeds their basis in the LLC. States vary ...

Temporary and proposed regulations extend the religious and family member FICA and FUTA tax exceptions to disregarded entities. Under Letter Ruling 201122003, if a current ESBT allows for separate and ...

This article outlines a five-step process for calculating a corporate partner’s distributive share related to the application of the corporate alternative minimum tax imposed on an applicable ...

As tax liability for COD income gives many taxpayers an unpleasant surprise in today’s economy, its tax treatment continues to be a focal point for tax professionals in tax planning and preparation.

A recent court decision is a reminder of the related-party traps and the importance of properly structuring a minority investment. Final regulations contain rules on the liability for employment taxes ...

The IRS issued the 2012 inflation adjustments to the depreciation limitations and lease inclusion amounts for certain automobiles under Sec. 280F (Rev. Proc. 2012-23). The IRS LB&I Division issued ...