On July 9, 2020, the US Department of the Treasury (Treasury) and Internal Revenue Service (IRS) released Final Regulations (Final Regulations) that provide guidance on the section 250 deduction for foreign-derived intangible...more
A recent case decided by the United States Court of Appeals of the Tenth Circuit reminds taxpayers to be aware that the Internal Revenue Service (IRS) is not necessarily locked in to the positions and arguments stated in the...more
5/28/2019
/ Appeals ,
Charitable Deductions ,
Clerical Errors ,
Deficiency Notices ,
Enhanced Penalties ,
Income Taxes ,
Initial Determination (ID) ,
Internal Revenue Code (IRC) ,
IRS ,
Tax Court ,
Tax Deductions ,
Tax Liability ,
Tax Penalties
Many states and localities give incentives for business to move or transact in their locations. There has always been a question of whether these incentives are taxable income under federal income tax law. Internal Revenue...more
4/11/2019
/ Capital Assets ,
Community Development ,
Economic Development ,
Grants ,
Municipalities ,
Non-Taxable Income ,
State and Local Government ,
Tax Court ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Reform