On December 21, 2020, the Treasury Department (Treasury) and the IRS released final regulations (Regulations) under Section 451 for determining the taxable year in which an amount must be reported as gross income on the...more
On September 5, 2019, the Treasury Department (Treasury) and the IRS released proposed regulations (Regulations) that would impact when accrual method taxpayers report amounts in gross income. Generally, Section 451 provides...more
9/11/2019
/ Accrual Method ,
Controlled Foreign Corporations ,
Financial Statements ,
Goods or Services ,
Income Taxes ,
IRS ,
Proposed Regulation ,
Regulatory Agenda ,
Revenue Recognition Standard ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Planning ,
Tax Reform ,
U.S. Treasury
On December 22, 2017, President Donald Trump signed into law the Tax Cuts and Jobs Act (TCJA), which includes numerous changes that will significantly impact mergers and acquisitions (M&A). Although the TCJA has rightly been...more
1/19/2018
/ Acquisitions ,
Bonus Depreciation ,
Controlled Foreign Corporations ,
Corporate Taxes ,
EBITDA ,
Foreign Acquisitions ,
Foreign Corporations ,
Foreign Subsidiaries ,
GILTI tax ,
Interest Income ,
Internal Revenue Code (IRC) ,
International Tax Issues ,
Mergers ,
Multinationals ,
Net Operating Losses ,
Parent Corporation ,
Reorganizations ,
S-Corporation ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Reform
After several years of hearings and forums intended to develop broad-based support for comprehensive tax reform, on February 26, 2014, House Ways and Means Committee Chairman David Camp (R-Mich.) released a draft tax reform...more
4/22/2014
/ Accounting ,
Alternative Minimum Tax ,
Corporate Taxes ,
Debt Restructuring ,
Derivatives ,
Financial Products ,
Foreign Tax ,
Internal Revenue Code (IRC) ,
Partnerships ,
Subpart F ,
Tax Credits ,
Tax Reform ,
Ways and Means Committee