The Tax Adviser

Supreme Court: Tax Court lacks jurisdiction when levy is satisfied

Because the IRS had offset a taxpayer’s liability from subsequent refunds, it was no longer pursuing a levy, and a petition ...
The Tax Adviser

Company’s $1.6 billion ‘break fee’ payment treated as ordinary deduction

A proposed merger agreement’s rights and obligations were in the nature of services, so a fee paid to terminate was not ...
The Tax Adviser

Technology and tax standards: Understanding new SSTS Section 1.4 — Reliance on Tools

AICPA members in tax practice must adhere to the updated Statements on Standards for Tax Services, including in their use of ...
The Tax Adviser

Like-kind exchanges of real estate: Building on the basics

Sec. 1031 like-kind exchanges enable tax deferral in complex real estate deals, including multi-property, reverse, and ...
The Tax Adviser

IRS ruling clarifies treatment of R&D when computing the FDII deduction

IRS rules research and development services U.S. entities provide to their foreign parent principal company may be ...
The Tax Adviser

Outlier or beginning of a trend? Illinois redefines investment partnerships

Prior to the law change, an Illinois investment partnership was a partnership under federal income tax law that met the ...
The Tax Adviser

Partnership recapitalization: Lender admittance without liability reduction

The consequences under Subchapter K and Sec. 1001 must be considered in a debt modification in which a lender takes an equity ...
The Tax Adviser

New legislation seeks to address disaster relief refund claim discrepancies

The TAS Act is bipartisan proposed legislation that undertakes the ambitious goals of modernizing the IRS and improving ...
The Tax Adviser

Transactions between related parties

Limitations on transactions between related parties include restrictions on installment sales of property and potential ...
The Tax Adviser

The R&D tax credit for architects and engineers

Architecture and engineering firms often face challenges when seeking to claim the Sec. 41 research-and-development tax ...
The Tax Adviser

September 2025 - The Tax Adviser

This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance ...
The Tax Adviser

Incentives for solar power generation systems

With a host of tax and incentive programs, there are many reasons for taxpayers to install solar power generation systems. The tax benefits can include income tax credits, breaks on local real estate ...