Editor: Mary Van Leuven, J.D., LL.M. Mary Van Leuven, J.D., LL.M., is a director, Washington National Tax, at KPMG LLP in Washington, D.C. For additional information about these items, contact Van ...

This article examines the final regulations governing microcaptive insurance arrangements and their effect on taxpayers and their advisers. For background, this article also provides an overview of ...

Treasury and the IRS on Jan. 10, 2025, released final regulations regarding dual-consolidated-loss (DCL) and disregarded-payment-loss (DPL) rules (T.D. 10026). These finalize proposed regulations ...

Taxpayers may be subject to the risk that an IRS examination could increase (or create) a gift tax or estate tax liability many years after a gift is made. Practitioners can help clients limit this ...

Editor: Mo Bell-Jacobs, J.D. Federal income tax credits have been used to incentivize investment in clean–energy projects for decades. The Sec. 48 energy credit is a component of the Sec. 46 ...

Individuals are subject to two income tax systems: the regular income tax and the alternative minimum tax (AMT). Taxpayers must compute their tax under each system and pay the greater of the two ...

The Fifth Circuit’s decision in Grigsby, 86 F.4th 602 (5th Cir. 2023), emphasizes the need for taxpayers to clearly define business components when preparing and documenting their Sec. 41 credit. It ...

In today’s competitive business environment, accounting and tax firms must continually strive for efficiency and effectiveness. The path to achieving a more efficient firm involves adopting best ...

The estate planning landscape is constantly evolving, and recent developments may affect existing and future estate planning strategies. This annual update summarizes key changes advisers need to be ...

S corporations are a favored entity structure for their combination of limited liability and passthrough taxation, which prevents double taxation. Shareholders of an S corporation receive compensation ...

Taxpayers must consider many areas of accounting for fixed assets when determining the most advantageous methods to use for income tax purposes. Some of these methods were less significant in recent ...

Editor: Rochelle Hodes, J.D., LL.M. Expatriation is a major life decision with big tax implications for anybody thinking about giving up their U.S. citizenship or long-term permanent resident status.