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Section 1250: How It Applies to Real Estate Taxes and Examples
Section 1250 of the U.S. tax code applies to gains from the sale of depreciated business real estate. If a property was ...
JD Supra15d
IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m
Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to ...
Even conservatives are worried about Trump's plans to slash the IRS
Mark Everson, who served as IRS commissioner under George W. Bush, said he supported efforts to streamline the IRS. But he ...
JD Supra6d
Understanding IRS Private Letter Ruling 202504006: Crucial Takeaways for Tax Planning
The Internal Revenue Service (IRS) recently issued Private Letter Ruling (PLR) 202504006, addressing several important estate and gift tax ...
JD Supra6d
Newly Released Final Regulations on Partnership Basis-Shifting Transactions
On January 10, 2025, the United States Internal Revenue Service (the "IRS") released final regulations (the "Final ...
Homeland Security Officials Push I.R.S. for 700,000 Immigrants’ Addresses
The Department of Homeland Security has pushed the Internal Revenue Service to turn over the addresses of roughly 700,000 ...
JD Supra14d
IRS Roundup February 10 – 14, 2025
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 10, 2025 – February ...