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Latest Tax Alerts

Check out the latest tax alert section of our website, full of links and articles for professional and personal tax news. Read More

Top Senate Tax Writers Release First Round of Bipartisan Reports Examining Tax Extenders

The Senate’s top tax writers have released the first ... Read More

Eligible Partnerships Granted Extension to File Form 1065 and Schedules K-1

The IRS has granted a six-month extension to eligible ... Read More

Proposed Regulations Update Fleet-Average, Vehicle Cents-Per-Mile Valuation Rules

Proposed regulations increase a ... Read More

Nondiscrimination Relief for Closed Defined Benefit Plans Extended Again

The temporary nondiscrimination relief ... Read More

Final Regs Tweak Safe Harbor for Partnership Allocations of Creditable Foreign Tax Expenditures

The IRS has adopted final regulations ... Read More

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100 Percent Bonus Depreciation Guidance for Certain Tax Years Allows Late Elections, Revocations

By: Brian Whelan, CPA, Partner


Brian Whelan, Partner Bonus depreciation guidance that applies to property acquired after September 27, 2017, in a tax year that includes September 28, 2017, allows taxpayers to make a late election or revoke a prior valid election to: elect out of 100 percent bonus depreciation; elect 100 percent bonus depreciation on specified plants in the year of planting or grafting; or elect the 50 percent rate in place of the 100 percent rate. ... Read More

Proposed Regulations Classify Cloud and Digital Content Transactions

By: Andrew Presti, Senior Partner


Andrew Presti, Senior PartnerTransactions involving digital content and cloud computing have become common due to the growth of electronic commerce. The transactions must be classified in terms of character so that various provisions of the Code, such as the sourcing rules and subpart F, can be applied.
Digital Content Transactions Existing Reg. §1.861-18 provides rules for classifying ... Read More

LB&I Withdraws Guidance on Cost-Sharing Arrangement Stock Based Compensation

By: Steve Grgas, CPA, Partner


Steve Grgas, CPA, Partner The IRS Large Business and International Division (LB&I) has withdrawn its directive to examiners that provided instructions on transfer pricing issue selection related to stock based compensation (SBC) in cost sharing arrangements (CSAs). U.S. taxpayers that are cost sharing participants must include SBC as intangible development costs (IDCs), under Reg. ... Read More


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