The Tax Adviser

IRS rules that community trust and affiliated nonprofit corporation can file a single Form 990

The ruling hinges on the corporation and trust being treated as a single entity and meeting other requirements under Regs.
The Tax Adviser

Representing taxpayers with IRS identity protection and theft victim assistance

Tax-related identity theft remains widespread and a potentially serious problem for victims, for whom authorized representatives can provide vital help.
The Tax Adviser

IRS met written-supervisory-approval requirement for penalty

Sec. 6752(1)(b) was satisfied by an IRS supervisor’s timely signed approval of penalties against the taxpayer, without any “meaningful review” or “reasoned decision-making,” the Tax Court held.
The Tax Adviser

IRS proposes using NAICS to determine lines of business for certain fringe benefit exclusions

The North American Industry Classification System, already in use for other tax purposes, replaces a specified manual that ...
The Tax Adviser

Murrin and Zuch provide insight into the limits of taxpayers’ rights

Taxpayers, such as those in Zuch and Murrin, can face unique circumstances where the law overrides their intentions.
The Tax Adviser

Trust distributions in kind and the Sec. 643(e)(3) election

This article explores the strategic use of this election, highlighting its potential to optimize tax outcomes for both trusts ...
The Tax Adviser

Deducting corporate charitable contributions

A corporation’s annual charitable contribution deduction cannot exceed 10% of the corporation’s taxable income Sec. 170 (b) (2) (A)), computed without regard to the following (Sec. 170 (b) (2) (D)): ...