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Both the House and Senate have voted on and approved separate versions of tax reform legislation. The process of reconciliation is now underway. This article addresses some of the issues being addressed in the financial services fund world.

As 2017 winds down, tax professionals, chief financial officers, and corporate officials should carefully analyze their year-end tax positions to plan for 2018 and beyond. Here are five major areas of concern that every business should consider.

The 2017 Tax Cuts and Jobs Act (the “Act”) has amended the Internal Revenue Code by adding a special rule for organizations with more than one unrelated trade or business. Unrelated business taxable income (UBTI) will now be computed separately.

The Tax Cuts and Jobs Act allows a non-corporate taxpayer to deduct the lesser of combined QBI or 20% of the excess of taxable income. It is essential that you consult with your tax advisor to determine whether you qualify for this new deduction.

The staff of the SEC issued guidance on the accounting and disclosure issues created by The Tax Cuts and Jobs Act. The guidance consists of the following two interpretations: Staff Accounting Bulletin 118 and Compliance & Disclosure Interpretation 110.02.

Year-end tax planning is a linchpin of the business strategy of any company. In this issue of Business Tax Quarterly, we offer some high-level guidance designed to help consider tax consequences and opportunities in both the U.S. and abroad.

The IRS has just advised taxpayers that in many cases they can continue to deduct interest paid on a home equity loan, home equity line of credit or second mortgage regardless of how the loan is labelled. Now not all home equity loans are deductible.

Under the provisions of the new tax law, an individual may not claim an itemized deduction in 2017 on a pre-payment of income tax for a future taxable year in order to avoid the dollar limitation applicable for taxable years beginning after 2017.

The 500 page+ Tax Cuts and Jobs Act has been advertised as the most significant piece of tax legislation since the Tax Reform Act of 1986. Here are highlights of this very important law.

The Senate passed its version of the Tax Cuts and Jobs Act early in the morning on December 2, 2017.

Effective tax planning can reduce estate taxes, maximize the amount of funds available for retirement, reduce the cost of financing your children's education and assist you in managing your cash flow to help you meet your financial objectives.

This is a further comparison of the provisions contained in the House and Senate Finance Committee versions of tax reform legislation. What follows are highlights and a comparison of the individual provisions of these two approaches to tax reform.

In addition to managing the usual end-of-year planning considerations, multinational corporations this year have to contend with the added dimension of tax reform. Here are several key topics multinational corporations should consider.

Earlier this year, we reported on the IRS Large Business and International (LB&I) division’s announcement of its initial set of 13 campaigns under its new audit approach. On November 3, the IRS identified 11 additional campaigns (with more to come).

Both the Senate and the House’s current versions of The Tax Cut and Jobs Act would have some very unfavorable impacts to certain corporations. Some companies could find themselves paying more taxes from a bill that includes the words tax cut.

Effective for transactions after November 27, 2017 a Senate tax proposal would override the holding in Grecian Magnesite and imposes a 10% withholding tax on the amount realized on the sale or exchange of an interest in a partnership.

This article examines how Congress has finally come around to writing cryptocurrency tax law into the Internal Revenue Code by revising the outdated language of the term “broker” and also providing a definition for digital assets.

There are tax-change overtures from the Biden Administration to help make American companies more competitive by eliminating offshore investment incentives, reducing profit shifting, and countering tax competition on corporate tax rates.

A discussion of the penalty relief the IRS recently announced related to certain failures related to the filing of new Schedule K-2 and Schedule K-3.

The IRS recently announced that their remaining COVID-19-related relief measures will end this summer, and they will return to normal collections procedures. This article explains what that means for taxpayers, and how to most effectively handle IRS enforcement actions.