The Tax Cost of Hot Assets upon the Disposition of a Partnership Interest
Article:
A disposition of a partner’s interest in an entity that holds hot assets may convert long-term capital gain to ordinary income or in certain cases may force the partner to recognize ordinary income offset by a nonutilizable capital loss upon the disposition.
Published on July 13, 2012
New VAT Rules Regarding International Services
Article:
This item focuses on recent European Union (EU) VAT legislative changes and how they will affect the provision of international services.
Published on July 13, 2012
The Qualified Therapeutic Discovery Project Tax Credit and Grant
Article:
Included in the 2010 Patient Protection and Affordable Care Act are a few new income tax credits. In particular, there is one that many new startups and growing health care industry enterprises may benefit from—the qualifying therapeutic discovery project credit (Sec. 48D).
Published on July 13, 2012
Analyzing the Tax Implications of Grants Received for Investment Tax CreditEligible Property
Article:
The recent availability of grants in lieu of the production tax credit (Sec. 45) and the investment tax credit (Sec. 48) has become a well-documented source of funding for the installation of certain energy property.
Published on July 13, 2012
Case Studies for Book-Tax Differences in the Classroom
Article:
The authors discuss how to most effectively cover book-tax differences in financial accounting and tax courses and how to prepare accounting graduates for this type of work in the profession.
Published on July 11, 2012
Best Article Award
Article:
The winner of The Tax Adviser’s 2009 Best Article Award is John C. Zimmerman, associate professor of accounting at the University of Nevada, Las Vegas, for his article “Deducting Losses for Defrauded Investors” in the July 2009 issue.
Published on July 14, 2011
Dependency Exemption Issues for College Students
Article:
Parents and tax professionals can no longer assume that a college student will remain a dependent of the parent until he or she graduates. With the variety of funding sources students use to pay for the ever-increasing cost of higher education, many are likely to provide over one-half of their
Published on April 27, 2011
Planning to Escape the S Corporation Built-in Gains Tax in 2010
Article:
The American Recovery and Reinvestment Act of 2009 suspended imposition of the built-in gains (BIG) tax for tax years beginning in 2009 and 2010 for qualifying S corporations.
Published on August 24, 2010
2010 Tax Software Survey
Article:
The Tax Adviser and the Journal of Accountancy conducted a survey of AICPA members who prepared 2009 tax returns for a fee to determine which tax preparation software products were the most popular, what aspects of those products preparers liked, and what they disliked.
Published on August 02, 2010
Regs. Limiting Period for Filing Innocent Spouse Claim Held Valid
Article:
Reversing the Tax Court, the Seventh Circuit held that the two-year limitation period for filing an equitable innocent spouse claim under Sec. 6015(f) in Regs. Sec. 1.6015-5(b)(1) was valid.
Published on August 02, 2010
The Tax Adviser August 2010
Article:
Published on August 01, 2010
Tax Implications of Transactions Involving Contingent Consideration
Article:
This article examines the tax and financial reporting consequences of companies using contingent consideration in payments for property and in payments to employees as compensation for services.
Published on August 01, 2010
S Corporations Facing the 15% Sunset
Article:
One change with major implications for S corporations with prior C corporation earnings is the sunset of the 15% tax rate on qualified dividends. This favorable rate is due to expire on December 31, 2010.
Published on August 01, 2010
IRS Issues Partnership Anti-Abuse Rule Regs.
Article:
The IRS and Treasury issued final regulations on June 8 to provide that the Sec. 704(c) anti-abuse rule takes into account the tax liabilities of both partners and certain owners of partners (T.D. 9485). The regulations also provide that partnerships cannot use an allocation method to achieve tax results that
Published on August 01, 2010
IRS Issues Regs. on New Indoor Tanning Tax
Article:
On June 11, the IRS issued final, temporary, and proposed regulations to provide guidance on the new 10% indoor tanning services excise tax (T.D. 9486; REG-112841-10).
Published on August 01, 2010