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    The Tax Adviser 2014 

     Illustration by Harry Campbell

    Illustration by Harry Campbell

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    Using Stock Warrants as Consideration

    Article Recent Tax Court litigation involving Google Inc. and America Online Inc. provides insight into how the IRS views stock options issued in commercial transactions.
    Published on October 20, 2014

    The Orphan Drug and Research Tax Credits The Substantially All Rule

    Article The research credit under Sec. 41 (when in effect) and the orphan drug credit under Sec. 45C are sometimes available for the same expenses incurred during the development of pharmaceuticals. Understanding how the credits work and how to maximize the benefit from both of them when they are both available
    Published on October 02, 2014

    Tax Advantages for U.S. Traders of Securities and Commodities Relocating to Puerto Rico

    Article This article discusses opportunities for traders in securities and commodities to dramatically decrease the U.S. federal income tax they owe on trading gains by relocating to Puerto Rico.
    Published on October 02, 2014

    What Do the Cash Method of Accounting and Sausages Have in Common

    Article Congress has launched a debate on comprehensive tax reform, the likes of which the country has not seen since 1986. As a result, the AICPA, in fulfilling one of its key roles as a leading professional organization, has been active in monitoring and educating Congress about the implications of various
    Published on September 30, 2014

    The Limited Liability Company Basis Limitation

    Article Under Sec. 704(d), a member's allocable share of loss from a limited liability company (LLC) taxed as a partnership is deductible only to the extent of the member's outside basis in his or her LLC interest at the end of the LLC year. In determining a member's outside basis at
    Published on September 30, 2014

    AICPA Sues IRS Over Annual Filing Season Program

    Article The AICPA filed suit in the U.S. District Court for the District of Columbia on July 15, asking the court to halt the IRS's recently introduced Annual Filing Season Program. The AICPA's three-count complaint asks the court to declare the rule implementing the program unlawful and stop its operation.
    Published on September 30, 2014

    Court Says IRS Cannot Prevent Contingent Fee Arrangements for Refund Claims

    Article The U.S. District Court for the District of Columbia granted a motion of summary judgment and issued an injunction to prevent the IRS from regulating contingent fee arrangements for the preparation and filing of ordinary refund claims under Circular 230.
    Published on September 30, 2014

    IRS Issues Guidance on Health Insurance Premium Tax Credits

    Article The IRS issued regulations and revenue procedures addressing how to calculate the Sec. 36B premium tax credit, including how the credit is calculated in conjunction with the Sec. 162(l) deduction for health insurance premiums of self-employed individuals.
    Published on September 30, 2014

    Fiduciary Fee Unbundling Rules Delayed Until 2015

    Article In response to a comment that the current effective date of the new rules on fiduciary fees does not give fiduciaries enough time to implement them, the IRS amended T.D. 9664 to delay the date.
    Published on September 30, 2014

    Sec. 6707 Material Adviser Penalty Applies on a Transaction-by-Transaction Basis

    Article The IRS issued final regulations under Sec. 6707, which imposes a large penalty on any material adviser who fails to file a return required under Sec. 6111(a) disclosing a reportable transaction or who files a false or incomplete return.
    Published on September 30, 2014

    Recent Developments in Estate Planning Part 2

    Article This is the second in a two-part article examining developments in estate, gift, and generation-skipping transfer tax and trust income tax between June 2013 and May 2014. This article covers trust developments, the taxation of trusts under the new 3.8% net investment income tax, President Barack Obama's estate and gift tax
    Published on September 30, 2014

    FICA Taxation of Nonqualified Deferred Compensation Arrangements

    Article With the passage of the Patient Protection and Affordable Care Act, which provided for an increase in the Medicare tax rate for certain high earners who are members of the ERISA "top hat" group, and recent discussions about the status of Social Security and Medicare funding, it is appropriate to
    Published on September 30, 2014

    Keeping Up With Increasingly Mobile Clients Navigating U.S. Tax Reporting for U.S. Persons With Ties to Foreign Trusts

    Article Despite the significant efforts of tax advisers to ensure their U.S. clients understand and comply with required tax and information-reporting forms on U.S. trust relationships, all too often transactions go unreported, even though penalties in these cases can be quite severe.
    Published on September 30, 2014

    Navigating the Net Investment Income Tax Key Issues for Investment Funds and Their Partners

    Article This item summarizes the aspects of the net investment income tax that are most relevant to hedge fund investors and general partners.
    Published on September 30, 2014

    Qualified Dividends and Capital Gains Flowchart

    Article The capital gain tax computation seemingly should be easy, but often it is not. The flowchart in this article is designed to quickly determine the tax on capital gains and dividends, based on the taxpayer's taxable income.
    Published on September 30, 2014

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