Throughout nearly a century of case law and guidance, the benefits and burdens of ownership have remained the touchstone for ...

Profits–interest partners frequently are allocated a share of the gain recognized in connection with a liquidity event. This allocation can lead to unexpected results related to Sec. 1245 recapture.

John Sapp, CPA, vice president, brand ambassador, Drake Software, discusses how artificial intelligence (AI) can be a powerful tool in the tax and accounting profession.

The taxation of Division I college sports may change once universities begin paying athletes directly, which will be permitted under a settlement of antitrust litigation against the NCAA and major ...

Although the deadline for filing a challenge to an IRS employment status determination is nonjurisdictional, an employer’s facts did not warrant equitable tolling, the Tax Court held.

The Eighth Circuit, affirming a district court, held that because a wife had no property interest in a home owned by her husband that was sold in a judicial sale to satisfy his federal tax debts, she ...

A Joint Committee on Taxation report’s language raises questions about the running of the statute of limitation for liability for the Sec. 965 transition tax.

The Tax Adviser—the magazine of planning, trends, and techniques—reports and explains federal tax issues to tax practitioners.

If tax-exempt entities invest in energy projects through partnerships, careful consideration should be given to allocations under the respective partnership arrangements to avoid any detrimental ...

Intangible property transactions are a minority of those covered by advance pricing agreements, despite their generally high risk for taxpayers.

David Winslow, CFP, managing director, Wealth Management, Choreo, discusses why building relationship-based advice platforms and leveraging strategic partnerships have become essential for firms ...

AICPA members providing tax representation or return preparation services need to comply with both the AICPA Statements on Standards for Tax Services and Treasury Circular 230.