For international businesses, transfer pricing is a significant income tax consideration as the taxpayer may be scrutinized for related party transactions. On January 12, 2018, the Internal Revenue Service (IRS)…
On September 27, 2023, the Internal Revenue Service released new guidance related to the 45L Energy Efficient Home Credit. What is the 45L Energy Efficient Home Credit? The 45L Energy…
…the organization’s revenue to determine if there is too much reliance on too few sources of revenue. In addition, the review should include the amount of unrelated business activities vs….
…is the attempt to increase unrelated business taxable income through nondeductible parking expenses. The Tax Cuts and Jobs Act (the “Act”) amended the Internal Revenue Code to disallow deductions for…
…be tax shelter/syndicate could not use these accounting relief rules. Under the Internal Revenue Code, a business would be considered a tax shelter/syndicate if it was a partnership or S…
…Security Administration (SSA) receives information concerning a taxpayer’s modified adjusted gross income (MAGI) directly from the Internal Revenue Service (IRS). The SSA uses this information to determine the amount of…
…stock. If at least 30% of the stock is sold to an ESOP, the selling owner/shareholder can reinvest the proceeds in qualified replacement property and defer recognition of the gain….
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…(Subtopic 350-60) ASU 2023-08 gives specified guidance for subsequent measurement, presentation and the disclosure of crypto assets to increase transparency. Initial measurement, recognition, and derecognition of crypto assets remain in…