About 10 years ago, as Nicole Davis, CPA, ordered dinner online, the status updates for her thin-crust pepperoni pizza made her wonder: Would something similar solve the vexing problem of seemingly ...

The tax profession is standing at a critical inflection point. With sweeping changes on the horizon, including major new tax legislation, evolving IRS priorities, emerging technology such as ...

What do you do when the proverbial “tax man” is coming to collect on tens of billions of deferred gains? As part of the 2017 Tax Cuts and Jobs Act, 1 Congress established the qualified opportunity ...

CPA Nicole Davis built a Tax Return Pizza Tracker and then got a trademark for it. Now she has big plans for a companion app that would touch almost every task in a tax firm.

Each year, tax professionals who deal with real estate must evaluate the most recent building expenditures and determine which items should be deducted as a repair expense or capitalized. Of all the ...

On occasion, taxpayers holding investments in foreign financial assets or with foreign financial institutions may find themselves in the uncomfortable position of realizing that they have failed to ...

Many practitioners who counsel business clients, both small and large, are familiar with the difficult challenges that quickly arise when taxes are withheld from employee wages but not turned over to ...

The basic rule for when a partner recognizes gain as a result of a distribution is found in Sec. 731(a)(1), which applies to both current distributions (from current income and activities) and ...

Individuals are subject to two income tax systems: the regular income tax and the alternative minimum tax (AMT). Taxpayers must compute their tax under each system and pay the greater of the two ...

The IRS may apply the step-transaction doctrine, a rule of substance over form, in a variety of taxpayer circumstances to deny tax benefits derived from a series of transactions that should more ...

Editor: Kevin D. Anderson, CPA, J.D. In an increasingly global economy, workers are experiencing unprecedented mobility. As such, Americans living abroad, even for a limited time, often participate in ...

This article examines the final regulations governing microcaptive insurance arrangements and their effect on taxpayers and their advisers. For background, this article also provides an overview of ...