Throughout nearly a century of case law and guidance, the benefits and burdens of ownership have remained the touchstone for ...

Allocations under Regs. Sec. 1.1245-1(e)(2)(i) may result in profits-interest partners being allocated ordinary income even ...

A Joint Committee on Taxation report’s language raises questions about the running of the statute of limitation for liability ...

This annual update covers recent developments relating to S corporations, including IRS relief for common inadvertent S election lapses; the transfer of clean-energy credits; and other cases, rulings, ...

A state marital homestead law was insufficient to establish a property interest by a taxpayer whose husband was the home’s sole owner.

The taxation of Division I college sports may change once universities begin paying athletes directly, which will be permitted under a settlement of antitrust litigation against the NCAA and major ...

Although the deadline for filing a challenge to an IRS employment status determination is nonjurisdictional, an employer’s facts did not warrant equitable tolling, the Tax Court held.

AICPA members providing tax representation or return preparation services need to comply with both the AICPA Statements on Standards for Tax Services and Treasury Circular 230.

Intangible property transactions are a minority of those covered by advance pricing agreements, despite their generally high risk for taxpayers.

If tax-exempt entities invest in energy projects through partnerships, careful consideration should be given to allocations under the respective partnership arrangements to avoid any detrimental impac ...

Hospital facilities must meet the requirements of Sec. 501(r) provisions of the Patient Protection and Affordable Care Act, P.L. 111-148 to retain tax-exempt status.

Taxpayers may be able to claim the PWA multiplier for certain credits if a project’s “beginning of construction date” is before Jan. 30, 2023.