Despite the ongoing partial government shutdown, the IRS issued four sets of guidance (the Guidance Package) on January 18 related to the new deduction for owners of pass-through entities of up to 20 percent of their...more
The IRS recently released Revenue Procedure 2018-38 (the "Revenue Procedure"), which exempts certain tax-exempt organizations from the requirement of reporting the names and addresses (the "Donor Information") of substantial...more
The 2017 tax reform bill created a new deduction for owners of pass-through entities (partnerships, LLCs taxed as partnerships, S corporations, and sole proprietorships) of up to 20 percent of their "qualified business...more
The IRS recently announced that it will not automatically reject individual income tax returns on which a taxpayer has failed to indicate whether they maintained qualifying health insurance coverage during the year for the...more
In the recently issued Revenue Procedure 2016-22, the IRS announced that it is lowering the user fee associated with the submission of Form 1023-EZ for organizations seeking recognition of their tax-exempt status under...more
When considering making a conservation easement gift, there are a number of steps involved, including the creation of multiple documents, appropriate due diligence and other tasks required to implement and substantiate such a...more
The Treasury Department has recently promulgated proposed regulations dealing with so-called inversion transactions. Inversion transactions are ones in which a U.S. corporation changes its domicile to a nation with a more...more
5/11/2016
/ Allergan Inc ,
Anti-Inversion Regulations ,
Controlled Groups ,
Corporate Counsel ,
Corporate Taxes ,
Debt ,
IRS ,
Mergers ,
Pfizer ,
Proposed Regulation ,
Related Parties ,
Required Documentation ,
Stocks ,
U.S. Treasury
The recently enacted Bipartisan Budget Act of 2015 repeals the current Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) and Electing Large Partnership (ELP) partnership audit regimes and replaces them with a new...more
It has been a busy year for developments in Alabama state taxation. In this tax alert we review many of the significant developments that have occurred over the last 12 months....more
10/29/2015
/ ABLE Act ,
Ad Valorem Tax ,
Business Taxes ,
Department of Revenue ,
Disability ,
Economic Presence Nexus ,
Financial Institutions ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Limited Liability Company (LLC) ,
Non-Resident Income Taxes ,
Nonprofits ,
Out-of-State Companies ,
Partnerships ,
Property Tax ,
S-Corporation ,
Sales & Use Tax ,
Tax Amnesty ,
Tax Exemptions ,
Trusts
The Internal Revenue Code has provided an incentive under Section 170(h) for charitable conservation gifts. Since at least 2002 there has been an interest in combining through partnership those land owners who may have little...more