From: ALI-The Practical Tax Lawyer (Winter 2017) The Bipartisan Budget Act of 2015 made fundamental changes to how the IRS will conduct audits of partnerships. This article by Jerald David August discusses the partnership audit rules prior to and as a result of TEFRA, drafting for three regimes involving IRS audits of partnerships, the partnership “pushout” election, election out of … read more –>
House GOP Bill, H.R. 1 and Chairman’s mark amendments of November 9, 2017 On November 2, 2017, the Republican GOP released a comprehensive tax reform plan which introduced a set of individual and corporate tax reforms that have received much attention and criticism from both sides of the aisle. Summaries of the proposed legislation were described in this forum in … read more –>
Perrigo Company and Subsidiaries (“Perrigo”) on August 15, 2017, filed a tax refund suit against the United States in the United States District Court for the Western District of Michigan, Southern Division, No. 1:17-cv-00737. [1] Perrigo alleged it overpaid Federal income taxes, penalties and interest, for its 52-53 week tax years ending in the last week in June for the … read more –>
As recently set forth in a post to K&F, LLP Business and International Tax Developments, in Executive Order 13789, President Trump directed the Treasury Department to undertake a detailed review of certain tax regulations projects that were either in proposed or final form on or after January 1, 2016 that imposed financial burdens on U.S. taxpayers, overly complicate the Federal … read more –>
Shortly after President Trump took the oath of office as President, on April 21, 2017, President Trump issued Executive Order 13789, a directive intended to reduce tax regulatory burdens on the IRS and Treasury.[1] The order instructed the Secretary of the Treasury to review all “significant tax regulations” issued on or after January 1, 2016 by the predecessor administration, and … read more –>