ACO not entitled to exemption under section 501(c)(4)
The U.S. Tax Court affirmed the IRS’s denial of section 501(c)(4) status to an ACO engaged in commercial shared savings programs.
Reconsidering Pass-Through Entity Tax Elections
Many states have enacted legislation to allow partnerships and S corporations to elect to have their income taxed at the entity level. This change was
FAQ: Capitalization and amortization of R&D costs under new section 174 rules
See how the new required tax treatment of R&D costs under section 174 affects federal, state, and international taxes, as well as software development.
M&A considerations resulting from the new required tax treatment of R&D costs
New requirements to capitalize and amortize R&D costs are affecting M&A buyers by introducing costs and tax liabilities.
Fewer vehicles to qualify for clean vehicle credit in the short term
New rules for EV credit reduce the number of eligible models after Apr. 17, 2023. The list of eligible models is likely to grow.
IRS issues proposed regulations on micro-captive transactions
Micro-captive insurance transactions are reportable transactions under Treasury’s new Proposed Regulations, which obsolete Notice 2016-66.
Health savings account benefits for employees and employers
Employee interest in health savings accounts (HSAs) has increased so employers should understand the benefits of offering them to employees.
IRS releases spending plan for $80 billion IRA funds
The IRS issued an ambitious strategic operating plan for spending $80 billion in additional funding provided by the Inflation Reduction Act.
Tax Court denies bad debt deduction; advances were equity and not debt
(authored by RSM US LLP) Taxpayers intending to treat cash advances as debt for tax purpose should ensure the debt is properly documented, as illustrated by a recent ruling.
Required minimum distributions after SECURE 2.0
(authored by RSM US LLP) SECURE 2.0 changes the rules governing how and when certain retirement savers can withdraw money from their retirement accounts and IRAs.
Ten quick year-end reminders for GILTI
(authored by RSM US LLP) Don’t be guilty. Year-end planning and analysis is still required for GILTI due to the ever-changing tax law.
Take action on section 174 R&E compliance
(authored by RSM US LLP) 2022 brings required capitalization and potentially hard decisions