Entin: Tax Reform Presents Opportunities for Foreign Investors in U.S. Businesses Holland & Knight Alert (Feb. 20, 2020)

Seth J. Entin, of Holland & Knight, has published an article, Tax Reform Presents Opportunities for Foreign Investors in U.S. Businesses Holland & Knight Alert (Feb. 20, 2020). The abstract is as follows: The U.S. Tax Cuts and Jobs Act (the TCJA), which was enacted at the end of 2017, dramatically changed the U.S. cross-border … Continue reading Entin: Tax Reform Presents Opportunities for Foreign Investors in U.S. Businesses Holland & Knight Alert (Feb. 20, 2020)

Bloomberg Special Report: State Taxation of Passthrough Entities

Bloomberg is making available for download without charge its special report, Pass-Through Entities Face Myriad State-Level Taxes, Compliance Obligations. The summary is as follows: While pass-through entities (PTEs) are the most common form of business entities in the U.S., identifying whether a PTE is subject to tax at the state level can be surprisingly complicated.  … Continue reading Bloomberg Special Report: State Taxation of Passthrough Entities

Railroad Holdings, LLC v. Commissioner, T.C. Memo 2020-22 (Feb. 5, 2020): LLC Not Entitled to Charitable Conservation Deduction for Conservation Easement

In Railroad Holdings, LLC v. Commissioner, T.C. Memo 2020-22 (Feb. 5, 2020) the Tax Court held that an LLC was not entitled to a charitable contribution deduction for a conservation easement. The taxpayer executed a deed declaring a conservation easement in favor of a tax-exempt charitable organization. The deed provided that, if the easement was … Continue reading Railroad Holdings, LLC v. Commissioner, T.C. Memo 2020-22 (Feb. 5, 2020): LLC Not Entitled to Charitable Conservation Deduction for Conservation Easement

KPMG: Changes proposed in 2019 draft instructions for Form 1065 and Schedule K-1 (Dec. 27, 2019)

KPMG reports that the IRS has released updated versions of the 2019 draft instructions for Form 1065 and its Schedule K-1. It's announcement reads as follows: • Read the 2019 draft instructions for Form 1065 [PDF 941 KB] U.S. Return of Partnership Income• Read the 2019 draft instructions for Schedule K-1 [PDF 395 KB] Partner’s Share of Income, Deductions, Credits, etc. … Continue reading KPMG: Changes proposed in 2019 draft instructions for Form 1065 and Schedule K-1 (Dec. 27, 2019)

Viswanathan: The Qualified Small Business Stock Exclusion — How Startup Shareholders Get $10 Million (Or More) Tax-Free, Virginia Tax Review (2020).

Manoj Viswanathan, UC-Hastings, has made available for download his article, The Qualified Small Business Stock Exclusion: How Startup Shareholders Get $10 Million (Or More) Tax-Free, 119 Colum. L. Rev. F. ___ (2019). The Abstract is as follows: The IPO parade of 2019 is making the early shareholders of technology startups such as Uber, Lyft, Slack, … Continue reading Viswanathan: The Qualified Small Business Stock Exclusion — How Startup Shareholders Get $10 Million (Or More) Tax-Free, Virginia Tax Review (2020).

IRS releases draft 2019 Forms 1065, 1120-S, and Schedules K-1 (September 30, 2019)

The IRS issued a draft of the tax year 2019 Form 1065, U.S. Return of Partnership Income (PDF), and its Schedule K-1, Partner’s Share of Income, Deductions, Credits, etc (PDF). The changes to the form and schedule aim to improve the quality of the information reported by partnerships both to the IRS and the partners of such entities. For … Continue reading IRS releases draft 2019 Forms 1065, 1120-S, and Schedules K-1 (September 30, 2019)

Resolving Tax Debts is Easy: It’s All About the Process

By Eric L. Green, Esq. Taxpayers often become frustrated and scared when dealing with the IRS on a back tax debt.In reality, however, resolving a tax debt is reasonably straightforward and can save taxpayers from unnecessary distress. A statutory lien is normally issued after tax returns are filed and payments must be arranged by the … Continue reading Resolving Tax Debts is Easy: It’s All About the Process