Tax Alerts
Tax Briefing(s)

"A thumb goes up, a car goes by…" Tax extenders remain a top contender for "hitching a ride" on November’s must-pass government funding bill.

The IRS has issued a revenue procedure with a safe harbor that allows certain interests in rental real estate to be treated as a trade or business for purposes of the Code Sec. 199A qualified business income (QBI) deduction. The safe harbor is intended to lessen taxpayer uncertainty on whether a rental real estate interest qualifies as a trade or business for the QBI deduction, including the application of the aggregation rules in Reg. §1.199A-4.

The IRS has released cryptocurrency guidance and frequently asked questions (FAQs) on virtual currency.

A district court has dismissed a lawsuit filed by four states’ against the federal government, ruling that the $10,000 state and local taxes (SALT) federal deduction cap is not unconstitutionally coercive.

New final regulations that address the allocation of partnership liabilities for disguised sale purposes revert back to prior regulations. Under the final regulations:

The IRS has released final regulation on the election to take a loss resulting from a federally declared disaster in the year preceding the disaster. The final regulations adopt proposed regulations substantially without change.

Proposed regulations provide guidance on the potential tax consequences of replacing the London interbank offered rates (LIBORs) with a new reference rate in contracts and agreements.

Taxpayer Advocate Service Publishes Map for Navigating the Tax System

Use of HRAs Expanded Under New Trump Administration Rule

Deducting Personal Casualty Losses Under the TCJA

IRS Permits Taxpayers to Change Bonus Depreciation Treatment for Certain Property

How the Marriage Penalty Has Changed Under the TCJA

Congress Moves to Enact Major Changes to Retirement Savings Plans

Claiming Federal Tax Credits for Electric and Hybrid Plug-in Vehicles

IRS Issues Proposed Rules on Insurance Contract Reporting Requirements

Congress Weighs Extending Expiring Tax Provisions Through 2019

House Budget Committee Debates the Impact of the TCJA

IRS Issues Final Regulations on the Qualified Business Income Deduction

IRS Issues Guidance on Food and Beverage Expense Deductions

Proposed Regulations Clarify That Making Large Gifts Will Not Harm Estates

Like-Kind Exchanges of Personal Property after Tax Reform