The Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) have released final regulations designating so-called “basis-shifting” transactions among related parties as “transactions of interest.”...more
1/14/2025
/ Compliance ,
Congressional Review Act ,
Disclosure Requirements ,
Final Rules ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Penalties ,
Reporting Requirements ,
Tax Planning ,
Tax Returns ,
Taxation ,
U.S. Treasury
The new corporate alternative minimum tax (“CAMT”) generally applies to corporations with 3-year average “book” income in excess of $1 billion. Thus whether a corporation owes CAMT may depend on positions taken under GAAP....more
12/29/2022
/ Accountants ,
Alternative Minimum Tax ,
Attorney-Client Privilege ,
Confidential Communications ,
Continuing Legal Education ,
Corporate Taxes ,
Events ,
GAAP ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Tax Audits ,
Tax Liability