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TCJA Update – Pass-Through Deduction Regulations – Late July

Administration officials are now saying that the new and desperately needed rules under IRC Section 199A will not be issued until late July. This author will go out on a substantial limb and tell you not to hold your breath — a Labor Day deadline is more likely.  The Treasury…

Cryptocurrency on the Hot Seat – Targeted IRS Enforcement

The IRS, on July 2, 2018 through its Large Business and International division, announced that it will begin targeted audits and other enforcement actions in a few specific areas. Importantly, the area of virtual currency or “cryptocurrency” was singled out for one of these enforcement campaigns. Through these campaigns, the…

News: Steve P. Presents National Webinar – Tax Aspects of Mergers and Acquisitions – Section 338(h)(10) Elections

The Tax Cuts and Jobs Act of 2017 significantly enhanced the tax deductions available for the costs of both new and used property used in a trade or business.  These enhanced deductions — including 100% immediate deductibility of asset costs — have caused M&A professionals, including tax professionals, to reassess…