by usoftax_admin | Jun 18, 2024 | Tax News
Recent IRS guidance limiting the corporate spinoffs that revenue officials will approve as tax-free ahead of time was designed to reflect the drafters’ current views, rather than suggest perceived abuse of these transactions, a U.S. Treasury Department official... by usoftax_admin | Jun 18, 2024 | Tax News
The Internal Revenue Service cannot reclassify as a capital loss a $1.6 billion payment AbbVie made to an Irish biotechnology company after their failed merger and thereby raise the pharmaceutical giant’s tax bill by $572 million, the company’s attorneys... by usoftax_admin | Jun 18, 2024 | Tax News
As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at... by usoftax_admin | Jun 18, 2024 | Tax News
Argentina, Brazil, Mexico and South Africa are among the countries the OECD believes could benefit from the simplified TP rules by usoftax_admin | Jun 18, 2024 | Tax News
Applicable federal rates for income tax purposes will decrease in July, the Internal Revenue Service said Tuesday, reporting the first month-to-month drop since February. by usoftax_admin | Jun 18, 2024 | Tax News
The U.S. Treasury Department released final labor rules Tuesday for clean energy projects seeking to significantly boost the value of their tax credits, emphasizing due diligence by developers and announcing that more IRS resources will go toward enforcement of the...