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Statute of Limitations Tax Rates

Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period... more +
Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period usually commencing from the date of the wrong or injury or the discovery of the wrong or injury. Except for under a limited set of circumstances, if an individual does not file a suit within the specified time period, the law bars them from ever suing on that claim. less -
Jones Day

New Tax Bill Will Rewrite Rules for Deducting Disgorgement Payments to SEC

Jones Day on

U.S. tax reform will mean new rules for deducting fines, penalties, and other amounts, including disgorgement, paid to the Securities and Exchange Commission ("SEC"). Currently, Internal Revenue Code section 162(f)...more

Bilzin Sumberg

Cancellation of CFC Loans to US Shareholders – Should the Service Get a Second Bite at the Apple?

Bilzin Sumberg on

The Service generally has three years after a return is filed to assess any tax due for that year. There are a number of exceptions to this general rule, such as where a taxpayer files a false return or omits more than 25...more

Lowndes

New Partnership Audit Rules Heading Our Way?

Lowndes on

The budget bill introduced yesterday includes a proposal to revamp/streamline how partnerships are audited. Specifically, it would repeal the much maligned TEFRA (1982 Tax Equity and Fiscal Responsibility Act) rules....more

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