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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

Hopes for Year-End Tax Extenders Package Appear Dwindling

Hopes for a year-end tax extenders ... Read More

IRS Increases Enforcement Action on Syndicated Conservation Easements, IR-2019-182

The IRS has announced a ... Read More

IRS Provides Section 199A Safe Harbor for Rental Real Estate

The IRS has issued a revenue ... Read More

Proposed Regs Address Terminated S Corporation Distributions

The IRS has proposed regulations ... Read More

Tax Extenders Remain Top Contender for Hitching a Ride on Must-Pass Government Funding Bill

"A thumb goes up, a car goes by..." Tax extenders remain ... Read More

Top Senate Tax Writers Call for Action on SECURE Act

Senate Finance Committee (SFC) ...
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Shahid Khoja has joined the firm as Tax Manager

By: Andrew Presti, Senior Partner


Andrew Presti, Senior PartnerShahid Khoja specializes in international tax, with expertise in the financial services industry, working with clients across the globe and advising on U.S. and international tax issues on cross border transactions. ... Read More

Final Regs Revert Back to Prior Partnership Disguised Sale Rules

By: Annemarie Aguanno, CPA, Senior Audit/Tax Manager


Annemarie Aguanno, CPA, Senior Audit/Tax ManagerNew final regulations that address the allocation of partnership liabilities for disguised sale purposes revert back to prior regulations. Under the final regulations:

• a partner’s share of a recourse liability of the partnership equals the partner’s share of the liability under the rules of Code Sec. 752 and the related regulations; and
• a partner’s share of a nonrecourse liability of the partnership is determined by applying the same percentage used to determine the partner’s share of the excess nonrecourse liability ... Read More

Proposed Rules Clarifying Carried Interest Limitation Expected Early 2020, Kautter Says

By: Elias Koumniotes, Senior Tax Manager


Wayne Naegele, Senior PartnerTreasury and the IRS are expected to release proposed rules in "early 2020" that would clarify certain limitations on the carried interest tax break, according to David Kautter, Treasury’s assistant secretary for tax policy. Kautter briefly addressed the proposed regulations’ timeline while speaking at the American Institute of CPAs (AICPA) 2019 National Tax Conference in Washington, D.C.

Carried Interest Limitation
The forthcoming regulations are expected to restrict S corporations from ... Read More


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