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Kirk Mitchell

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IRS Releases Advance Payment Proposed Regulations for Accrual Method Taxpayers, Providing One-Year Deferral

On September 5, the IRS released guidance in the form of proposed regulations (Prop. Reg. §1.451-8) that address the receipt of payments from customers

Advance Payments: Potential for Longer Term Deferral under Newly Issued Regulations, Repeal of Regulation §1.451-5

Back in July, the IRS formally removed regulation §1.451-5 from the Code of Federal Regulation. The regulation had permitted some companies to defer

Additional Opportunity Zone Regulations Issued

On April 17, the IRS finally issued additional guidance (the 4/17 proposed regulations) concerning qualified opportunity zone (QOZ) investments following

Significant Tax Savings Available Using Qualified Opportunity Zones: Proposed Regulations Issued

The Internal Revenue Service (IRS) finally issued much needed guidance, in the form of proposed regulations, on Qualified Opportunity Zones (QOZs). The

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Business Meals Remain Deductible

On Wednesday, October 3, 2018, the Internal Revenue Service (IRS) issued Tax Notice 2018-76 confirming our conclusion reached in March 2018 that certain

The interplay of the new charitable deduction regulations and state and local tax credits

There is a lot of concern, and possibly even misconceptions, regarding the (practical) impact of the proposed charitable contribution regulations that

IRS Releases Proposed Regulations on the 20% Qualified Business Income Deduction for Flow-through Businesses

On August 8, the Treasury Department and Internal Revenue Service released long-awaited regulations on the 20% deduction for pass-through businesses whose

Investment in Opportunity Zones Can Yield Significant Tax Benefits (Part 1 - Introduction)

The Tax Cuts and Jobs Act (the “Act”) signed into law back in December contains a number of tax beneficial provisions. One that should catch

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A Tax Cut and Jobs Act Call for Guidance on Implementing the 20% Qualified Business Income Deduction

The Tax Cuts and Jobs Act (the Act), enacted December 22, 2017, provided many taxpayer-friendly benefits, including a 20% deduction against flow-through

Tax Provisions Included in Federal Spending Bill

On Friday March 23, Congress passed the Consolidated Appropriations Act, 2018, H.R. 1625 (the Act), a $1.3 trillion spending bill designed to keep the

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