Practice Units News Today

Several times a year, the Internal Revenue Service publishes Practice Units to assist IRS staff with understanding the application of rules…

In 2021, the COVID-19 pandemic continues to change how US
taxpayers, the Internal Revenue Service (IRS), and courts approach
tax controversies.

One of the most pressing audit issues for large taxpayers today centers on the Internal Revenue Code (Code) Section 965 transition tax. The Internal Revenue Service (IRS) has designated Code Section 965 as a campaign issue and is actively auditing taxpayers transition tax calculations and positions, along with other tax reform items. The stakes are high, particularly given the potential to pay this tax over a period of eight years. On March 23, 2021, the IRS released a Practice Unit that provid...

To embed, copy and paste the code into your website or blog: Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 14 – December 18, 2020. Additionally, for continuing updates on the tax impact of COVID-19, please visit our resource page here. December 14, 2020: The IRS released Notice 2020-88 updating and amplifying procedures for Phase III of the section 48A advanced coal credit. December 16, 2020: The IRS iss...

Legal Disclaimer You are responsible for reading, understanding and agreeing to the National Law Reviews (NLR’s) and the National Law Forum LLCs  Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only. Any legal analysis, legislative updates or other content and links should not b...