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On November 28, 2023, in Soroban Capital Partners LP v. Commissioner, the US Tax Court denied the taxpayer's motion for summary judgment, holding that whether a limited partner in a state law limited...
The changes should make it easier for defined benefit plans to pass IRS backloading tests.
The IRS says that the balance and accrual rate for a participant cannot be reduced when adopting a new variable rate.
On 22 December 2023, the US Treasury Department (Treasury) released the highly anticipated Proposed Regulations relating to the Clean Hydrogen Production Credit (hydrogen credit) under...
With the release of Revenue procedure 2023-9, the IRS has greatly reduced the administrative burden of developers using the alternative cost method (ACM) to include common improvement...