Many routine transactions occur between related parties, including the payment or accrual of interest on indebtedness, license fees, salary or benefits to employees and/or shareholders, and trade invoices. The Tax Court...more
7/27/2017
/ Employee Benefits ,
ESOP ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Payroll Records ,
Related Parties ,
S-Corporation ,
Shareholders ,
Tax Deductions ,
Tax Returns
Two recent cases illustrate the IRS’ ability to successfully argue that taxpayers should not benefit from their own mistakes if they result in less tax being paid.
Two recent cases highlight the most current view of the...more
On June 10, 2016, the Internal Revenue Service released a Chief Counsel Memorandum dated July 8, 2015, addressing the issue of whether a target S-corporation, which participated in a transaction in which the parties made a...more