January 20, 2020
Steve Grgas
Blog Posts
0 CommentsIRS Releases Final and Proposed BEAT Regulations The IRS has issued final and proposed regulations implementing the base erosion and anti-abuse tax (BEAT) under Code Sec. 59A. The BEAT is a minimum tax that certain large corporations must pay on certain payments made to foreign related parties, and was added by the Tax Cuts and […]
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January 20, 2020Wayne NaegeleBlog Posts0 CommentsFinal and Proposed Regulations Address Foreign Tax Credit The IRS has issued highly anticipated final regulations on the significant changes made to the foreign tax credit rules by the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97). The final regulations retain the basic approach and structure of the 2018 proposed regulations ( NPRM REG-105600-18). […]
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January 20, 2020Tracy TaschBlog Posts0 CommentsPartner Tax Basis Capital Reporting Not Required Until 2020 Partnership Tax Years The IRS has released guidance that provides that the requirement to report partners’ shares of partnership capital on the tax basis method will not be effective for 2019 partnership tax years, but will first apply to 2020 partnership tax years. 2019 Reporting For […]
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January 20, 2020Thomas ZanataBlog Posts0 CommentsFinal Regulations on Calculation of UBTI Issued The IRS has released final regulations that present guidance on how certain organizations that provide employee benefits must calculate unrelated business taxable income (UBTI) under Code Sec. 512(a). Background Organizations that are otherwise exempt from tax under Code Sec. 501(a) are subject to tax on their unrelated business […]
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