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The Tax Adviser—the magazine of planning, trends, and techniques—reports and explains federal tax issues to tax practitioners.
With a host of tax and incentive programs, there are many reasons for taxpayers to install solar power generation systems. The tax benefits can include income tax credits, breaks on local real estate ...
Trusts and estates may benefit from the “unlimited” charitable income tax deduction under Sec. 642(c), which may be especially attractive to a philanthropic grantor seeking to completely eliminate ...
Qualified terminable interest property trusts can be useful, but care must be taken to avoid running afoul of their requirements, as a recent Tax Court case illustrates. With the basic exemption ...
The IRS lost 11% of its staff in the first three months of 2025, with revenue agents who conduct audits accounting for the largest percentage of those who left, the Treasury Inspector General for Tax ...
Republican fiscal hawks joined Democrats to sink the bill, which includes tax provisions approved by the House Ways and Means Committee earlier this week, due to concerns about its cost and the impact ...
The bill would make key portions of the TCJA permanent and create a new “senior bonus” deduction, among its many provisions. An AICPA statement said it is “deeply troubled” by the plan to curtail use ...
Republican fiscal hawks joined Democrats to sink the bill, which includes tax provisions approved by the House Ways and Means Committee earlier this week, due to concerns about its cost and the impact ...
Although Sec. 642(c) provides for an “unlimited” charitable income tax deduction attractive to philanthropic grantors, Sec. 681 may limit a trust’s actual deduction. A Chief Counsel Advice memo ...
A qualified Subchapter S subsidiary (QSub) is a subsidiary corporation 100% owned by an S corporation that has made a valid QSub election for that subsidiary. In addition to being 100% owned by an S ...
During the period covered by this update, the IRS issued both final and proposed regulations regarding required minimum distributions (RMDs) from certain qualified retirement accounts. Excise tax for ...
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