Insights & Resources

IRC Section 1202 allows taxpayers to exclude from federal income tax capital gains from the sale or exchange of Qualified Small Business Stock.

In a recent decision, the First District Court of Appeals in Illinois held that book-out transactions are transfers of ownership of fuel and are subject to tax.

The new credit transfer provision in the Inflation Reduction Act could provide a new opportunity for REITs to invest in properties with solar facilities.

New guidance released by the IRS has taxpayers facing the mandatory method change for specified R&E expenditures under IRC Section 174.

U.S. investors run a risk of diminishing returns if they do not understand how PFIC rules apply to foreign investments. Learn about the tax consequences.

The California Franchise Tax Board has granted a one-year extension for tax capital reporting conformity. Learn more about reporting capital accounts.

A provision in the Inflation Reduction Act of 2022 permits the transfer of renewable energy tax credits to an unrelated party in exchange for cash.

The Inflation Reduction Act of 2022 provides $369 billion in spending and tax credits over 10 years to expediate the transition to decarbonized energy sources.

A number of states have updated their motor fuel tax rates and related fees effective in the first quarter of 2023.

Increased IRS funding may mean greater attention from IRS auditors to transfer pricing, which has been the target of political & public concerns over tax avoidance.

Recent cryptocurrency exchange failures were not caused by technological issues, but by a lack of structure in corporate governance and internal controls.

The Internal Revenue Service has delayed implementation of the new $600 threshold for Form 1099-K reporting by “third-party settlement organizations.”