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The family limited partnership has had its proponents and opponents over the past several years. A new taxpayer victory out of the Fifth Circuit will only fuel the debate over [...]

The Internal Revenue Service recently announced an opportunity for some partners and S corporation shareholders to spread out income that is realized in any short year generated by certain accounting [...]

The start of a new year is always a good time to take a moment to assess the hot buttons that can impact your organization during the coming year. For [...]

The climate is changing for nonprofit organizations, with both the Internal Revenue Service and Congress zeroing in on issues such as transparency, board oversight and compensation matters. While Sarbanes-Oxley requirements [...]

The 10 percent early withdrawal penalty tax for distributions from an IRA before age 59-1/2 does not apply to distributions that are part of a series of substantially equal periodic [...]

By Bob Rywick The Taxpayer Relief Act of 1997 added IRC a 221 to provide an above-the-line deduction for certain interest due and paid after 1997 on qualified education loans [...]

By Peter M. Berkery Jr. * IRS Updates Commuting Expense Deduction Rules: A taxpayer who meets the principal place of business test for purposes of the home office deduction is [...]

The start of the new year means the beginning of another tax season--and this year, it also means easier distribution planning for advisors with clients who have IRA assets. The [...]

WASHINGTON -- A calm discussion about the Internal Revenue Service's economic reality and market segment programs escalated into a verbal free-for-all over how far CPAs must go to complete tax [...]

Although certainly not new, the LIFO (last in, first out) method of valuing inventories continues to be an effective method for reducing income taxes for manufacturers and distributors. Even though [...]

Revenue Procedure 92-13 outlines how certain corporations may get expeditious approval from the Internal Revenue Service for a change in accounting period. There are special provisions in the Treasury Regulations [...]

Tax Rule Targets Abuses by Foreign Companies IRS Imposes New Recordkeeping Burden on Multinationals WASHINGTON -- In a move that could have serious consequences for international trade, the Internal Revenue [...]

Chicago -- The Internal Revenue Service is cracking down on nonprofits, and only the sharpest CPAs will be able to guide their clients through these shark-infested waters, a local tax [...]

The IRS released four coordinated issue papers in late June: an all-industries paper on the dollar-value LIFO segment of inventory excluded from the LIFO index computation; a maquiladora industry paper [...]

The IRS has issued a new revenue procedure under which small resellers (those with less than $10 million in gross receipts for the three prior years) can obtain automatic approval [...]

The IRS has released two industry specialization program (ISP) coordinated issue papers -- one explaining when the percentage completion method can be used to account for income and expenses for [...]

In a publicly-disclosed letter to a private practitioner, the IRS has confirmed that, for any plan year after termination, a defined benefit plan does not have to file Schedule B [...]

IRS BEGINS RELEASING AUDIT GUIDES: The Internal Revenue Service Examination Division has released the first six of its Market Segment Specialization Program audit guides. The six market segments covered by [...]