The IRS issued a private letter ruling on I.R.C. §953 and Treas. Reg. §301.9100, granting a foreign insurance company a 90-day extension to elect domestic corporation treatment effective from its ...
The IRS issued a private letter ruling on I.R.C. §§131, 6041, and 6051, determining that Medicaid payments made under a state’s in-home supportive care program to care providers residing with ...
The IRS issued a private letter ruling on I.R.C. §§468A, 671, and 1001 confirming that assets transferred from qualified nuclear decommissioning funds to nonqualified funds will be disqualified, deemed distributed ...
The IRS issued a private letter ruling on I.R.C. §754 and Treas. Reg. §301.9100, granting a partnership 120 days to make a late §754 election effective for its tax year ...
The IRS issued a private letter ruling on I.R.C. §754 and Treas. Reg. §301.9100 granting the partnership a 120-day extension to make a §754 election for its property basis adjustments ...
The IRS issued a private letter ruling on I.R.C. §2010 and Treas. Reg. §301.9100 granting a 120-day extension for the decedent’s estate to file Form 706 and make a portability ...
The IRS issued revenue procedures providing inflation-adjusted depreciation limitations for passenger automobiles, including trucks and vans, placed in service during calendar year 2026 under I.R.C. §280F. The revenue procedure contains ...
The IRS released an updated FAQs on refundability, and special needs determinations made by Indian tribal governments, for the adoption tax credit. The information includes clarifying the tax credit for ...
The U.S. Court of Appeals for the Second Circuit affirmed that the IRS can assess penalties under IRC §6038(b) for failure to report control of a foreign business, vacating and ...
The U.S. Tax Court, in a memorandum decision, held that the taxpayer was not entitled to deduct expenses reported on Schedules C and was liable for accuracy-related penalties, sustaining the ...
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