What could a change in administration and a shift in Senate majority mean for taxes? Frazier & Deeter tax experts LeighAnn Costley and Bryce Nations discuss potential tax changes by the Biden administration. Listen now using the player below or... Read More
The IRS has resolved some of the issues left open under proposed passthrough deduction regulations issued last year. Final regulations under Sec. 199A provide guidance on the treatment of previously suspended losses included in qualified business income (QBI) and on... Read More
Transfer Pricing is in the spotlight again this week with the news of a win for Apple and the Irish Government in the State Aid case brought by the European Commission. With billions of Euros at stake, it is no... Read More
The Large Business & International (“LB&I”) division at the IRS examines and enforces compliance on the largest and most complex companies and tax issues. The Research & Development Tax Credit is one such tax issue, which the IRS has found... Read More
Did you know you may have cash hidden in unclaimed R&D tax credits? Mike Whitacre interviews Thomas Wells, leader in our UK R&D Tax Credit practice. Thomas Wells explains the benefits of R&D tax credits and which companies may qualify.... Read More
When it comes to basic principles of federal taxation, I tell my students to start with these truths: Everything is income unless it isn’t, and nothing is deductible unless it is. In a recent Tax Court case, MCM Investment Management,... Read More
Corporations that have been paying the Sec. 965 repatriation tax may get further tax relief for those earnings. The IRS has determined that, in some circumstances, it may be appropriate to provide relief from double taxation when the same earnings... Read More
When a significant number of tax groups and businesses comment on regulations, the IRS appears to listen. Six months ago, the IRS proposed regulations on computing built-in gains and losses for the Sec. 382 loss limitation that applies after a... Read More
In December 2019, the IRS created a safe harbor for rental real estate businesses to qualify for the 20% qualified business income (QBI) deduction. Now the IRS has issued new FAQs that explain how real estate companies that do not... Read More
The IRS has completed its guidance on the implementation of the Opportunity Zones tax incentive. Opportunity Zones offer capital gains tax relief for investments in almost 9,000 economically distressed areas certified by the Treasury Department. The final rules provide clarity... Read More
