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Internal Revenue Service Disagrees with Stine Ruling on When Depreciation Starts

One benefit to owning a building is the ability to expense it over time. Tax depreciation starts on an asset’s “placed in service date,”

Red Flags in Reasonable Compensation

How does an IRS agent determine that an organization might have a reasonable compensation issue? We can look to the Reasonable Compensation Job Aid for

IRS to Revise Form 1023-EZ, Streamlined Application for Recognition of Exemption

On July 1, 2014, the Internal Revenue Service (IRS) introduced the highly scrutinized Form 1023-EZ, Streamline Application for Recognition of Exemption

New Estate Tax Portability Relief

The federal estate tax provides a lifetime exemption of $5,490,000 (for 2017) per person. That means that the first $5,490,000 of assets owned at death
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IRS Grants Temporary Relief for Late Portability Elections

The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 introduced a new concept known as “portability” to the

Can Your Company Benefit From Grant Funding for Fleet or Equipment Repower or Replacement?

Our Transportation and Logistics Industry Group is closely monitoring the progress of the Environmental Mitigation Trust that was created as a result of

Final IRS Regulations on Country-by-Country Reporting Are in Line with the OECD's BEPS Plan

The Internal Revenue Service (IRS) recently finalized (TD 9773) proposed regulations on the Country-by-Country (CbC) reporting of financial information

Senators Propose Increase to Research & Development Tax Credit for U.S. Manufacturers

On June 6, 2017, Senators Chris Coons (D-DE) and Pat Roberts (R-KS) introduced the Invent and Manufacture in America Act (Act) in the Senate. The Act looks
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OECD's Country-By-Country Reporting Exchange Activated

This spring, the Organization for Economic Cooperation and Development (OECD) took another step toward implementation of global Country-by-Country (CbC)

IRS Reissues Partnership Audit Regulations in Proposed Form

The November 2015 Bipartisan Budget Act provides for new partnership audit rules that allow the Internal Revenue Service to assess and collect tax at the
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