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News
IRS removes associated-property rule from interest capitalization regulations
6+ mon, 1+ week ago (154+ words) Editor: Greg A. Fairbanks, J.D., LL.M. Including the basis of associated property in production expenditures results in the capitalization of more interest to improvements to designated property under Sec. 263A(f), as the adjusted basis increases the base of production expenditures for calculating the amount…...
Mandelson appeared to leak UK government tax info to Epstein
7+ mon, 1+ week ago (614+ words) Documents released by the Department of Justice appear to show that Peter Mandelson leaked sensitive U.K. government emails to disgraced financier Jeffrey Epstein while serving as a minister. According to the files, Mandelson forwarded internal Downing Street emails about tax policy…...
IRS rules that community trust and affiliated nonprofit corporation can file a single Form 990
7+ mon, 1+ week ago (343+ words) Editor: Susan M. Grais, CPA, J.D., LL.M. Regs. Sec. 1.170A–9(f)(11)(iii) requires an organization to be commonly known as a community trust, fund, foundation, or other similar name showing the fund supports charitable activities in the community or area it serves. Regs. Sec....
Democrats probe IRS CEO's tie to Fiserv fall
10+ mon, 3+ day ago (440+ words) Senate Democrats are pressing Fiserv Inc. for information on the role former chief executive Frank Bisignano played in the company's plummeting fortunes before he took a role in President Donald Trump's administration. Firserv's shares plunged late last month after the…...