The Tax Cuts and Jobs Act (signed into law in late 2017) added Section 4960 to the Internal Revenue Code (“Code”). Code Section 4960 imposes an excise tax (currently 21 percent) on certain excess ...

Whoever said you can’t have your cake and eat it too should have called their accountants and lawyers first. These professionals often receive inquiries from founders, equity investment firms and ...

Forbes contributors publish independent expert analyses and insights. Matthew Roberts is a tax attorney who covers tax litigation and fraud.

June 21, 2023 - On March 30, 2023, the Internal Revenue Service issued Revenue Ruling 2023-2, which directly impacts a wide range of irrevocable trusts, including grantor retained annuity trusts, ...

The IRS has published its Internal Revenue Bulletin, which provides transitional guidance on filing returns related to specific interest received from loans for passenger vehicles used in trade or ...

Section 1256 contracts include certain regulated futures contracts, foreign currency contracts and non-equity options. These contracts receive a unique tax treatment under the IRS code and are subject ...

The U.S. Treasury Department and the IRS announced on Friday, July 13, 2018, that they intend to issue regulations on the impact of new section 67(g) of the Internal Revenue Code of 1986 on certain ...

IRS opens PTIN renewal for 800,000 tax pros—those who miss the deadline face penalties, delays, and possible disciplinary ...

Internal Revenue Code Section 181 permits a 100% deduction for the first $15 million of the cost of producing a film that is shot in the U.S. (even before the film is released). While it sounds good ...

The guidance clarifies that people who did not take RMDs in 2021 and 2022 will not be responsible for the excise tax. The IRS has issued Notice 2022-53, providing guidance on final regulations related ...