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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
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Hopes for Year-End Tax Extenders Package Appear Dwindling
Hopes for a year-end tax extenders ... Read
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IRS Increases Enforcement Action on Syndicated Conservation Easements, IR-2019-182
The IRS has announced a ... Read
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IRS Provides Section 199A Safe Harbor for Rental Real Estate
The IRS has issued a revenue ... Read
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Proposed Regs Address Terminated S Corporation Distributions
The IRS has proposed regulations ... Read
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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
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Top Senate Tax Writers Call for Action on SECURE Act
Senate Finance Committee (SFC) ...
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Presti &
Naegele
Contact us at:
info@pntax.com
Tel:(212)736-0055
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Shahid Khoja has joined the firm as Tax Manager
By:
Andrew Presti, Senior Partner
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 Shahid 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
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Final Regs Revert Back to Prior Partnership Disguised Sale Rules
By:
Annemarie Aguanno, CPA, Senior Audit/Tax Manager
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 New 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
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Proposed Rules Clarifying Carried Interest Limitation Expected Early 2020, Kautter Says
By: Elias Koumniotes, Senior Tax Manager
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 Treasury 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
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