IRS Provides Section 199A Safe Harbor for Rental Real Estate
The IRS has issued a revenue procedure with a safe harbor that
allows certain interests in rental real estate to be treated as a
trade or business for purposes of the Code Sec. 199A qualified
business...
SALT Cap Not Unconstitutionally Coercive
A district court has dismissed a lawsuit filed by four states’
against the federal government, ruling that the $10,000 state and
local taxes (SALT) federal deduction cap is not
unconstitutionall...
Preceding Year Disaster Loss Election Final Regulations
The IRS has released final regulation on the election to take a
loss resulting from a federally declared disaster in the year
preceding the disaster. The final regulations adopt proposed
regulations s...
Proposed Regs Address Tax Implications of LIBOR Elimination
Proposed regulations provide guidance on the potential tax
consequences of replacing the London interbank offered rates
(LIBORs) with a new reference rate in contracts and agreements....
All eyes on tax reform in 2017
Congress ended 2016 passing a few targeted tax bills and lawmakers
focused on the incoming Trump administration and tax reform in
2017. President-elect Donald Trump campaigned on tax cuts for
individu...
Major tax changes expected under Trump Administration
One month after the presidential election, taxpayers are learning
more about President-elect Donald Trump’s tax proposals for his
administration. Although exact details, including legislative la...
