The U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) recently released proposed regulations (REG-122793-19) pertaining to information reporting and backup withholding, as well as basis and...more
After much political gridlock, Congress passed an omnibus government-spending bill (Appropriations Act), which includes another COVID-19 relief package. The Appropriations Act contains many tax-related provisions. Some of the...more
12/28/2020
/ Appropriation Act ,
Business Taxes ,
CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Families First Coronavirus Response Act (FFCRA) ,
IRS ,
Loan Forgiveness ,
Meal and Entertainment Expenditures ,
Paid Family Leave Law ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
Tax Credits ,
Trump Administration
08.05.2020 | Updates On Friday, July 31, 2020, the Internal Revenue Service (IRS) issued proposed regulations under Section 1061 of the Internal Revenue Code. Enacted as part of the 2017 Tax Cuts and Jobs Act, Section 1061...more
New development: The IRS has issued guidance that the exception to the new 3-year hold requirement for carried interests held by “corporations” does not apply to S corporations.
As previously discussed, the 2017 Tax Cuts...more
3/8/2018
/ Asset Management ,
Business Assets ,
Business Taxes ,
C-Corporation ,
Capital Gains ,
Carried Interest ,
Fund Managers ,
Investors ,
IRS ,
Limited Liability Company (LLC) ,
Partnership Interests ,
S-Corporation ,
Tax Cuts and Jobs Act
Recently, the Internal Revenue Service issued final regulations addressing reorganizations, commonly referred to as “F reorganizations,” under Section 368(a)(1)(F) of the Internal Revenue Code (the Code). F reorganizations...more