The Internal Revenue Service has announced that it will be issuing proposed regulations clarifying that certain state or local income taxes imposed on and paid by a partnership and/or an S corporation will not be subject to...more
The Internal Revenue Service has issued a temporary regulation and a proposed regulation (pursuant to authority granted in the Families First Act and the CARES Act) to allow the agency to administratively recapture any excess...more
The 2017 Tax Cut and Jobs Act (TCJA) limited like-kind exchanges occurring after 2017 to “real property held for productive use in a trade or business or investment if such real property is exchanged for real property of a...more