News
Current developments in taxation of individuals: Part2
7+ hour, 40+ min ago (962+ words) This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2025....
Access to energy: A "new" intangible asset?
7+ hour, 40+ min ago (22+ words) Some leases and other contracts for priority access to electricity needed for new technologies may require 15-year amortization under Sec. 197....
Gray areas of Sec. 1202 warrant regulatory guidance
7+ hour, 40+ min ago (369+ words) While recent legislation has further boosted the benefits of the qualified small business stock gain exclusion, official guidance is needed to clarify ambiguities....
Demystifying reattribution: Disregarded payments and the FTC limitation
7+ hour, 40+ min ago (24+ words) Adjustments under the disregarded-payment and foreign tax credit rules are often overlooked. This practical framework includes a step-by-step guide and example....
Unlocking efficiency and reducing risk: How automation and AI are transforming tax reporting and withholding functions
7+ hour, 40+ min ago (15+ words) Taxing authorities" use of these new tools and capabilities requires corresponding adoption by tax professionals....
A case study on ILITs: What went wrong, how to fix it, and best practices for prevention
7+ hour, 40+ min ago (21+ words) In estate planning, taxpayers and their advisers may overlook the potential generation-skipping transfer tax implications of irrevocable life insurance trusts....
Considerations for intergenerational split-dollar arrangements
1+ mon, 7+ hour ago (1014+ words) Families with significant estate tax exposure may consider intergenerational split-dollar (IGSD) arrangements, where the senior generation loans funds to a trust to purchase life insurance on children for the benefit of grandchildren. An IGSD arrangement is a variation on a…...
Application of grandfathering rules under Sec. 162(m) to severance plan payments
1+ mon, 7+ hour ago (120+ words) Editor: Alexander J. Brosseau, CPA The TCJA changes included, among others: In Example (5), addressing the application of the grandfathering rules to severance arrangements, the facts are the same as Example (4), except that, on Jan. 1, 2019, Corporation X increases Employee A's annual salary…...
Estate planning in a post-OBBBA world
1+ mon, 7+ hour ago (203+ words) Editor: Alexander J. Brosseau, CPA Definitive change arrived on July 4, 2025, when Trump signed the law commonly referred to as the One Big Beautiful Bill Act (OBBBA), H. R. 1, P. L. 11921, which permanently set the BEA and generationskipping transfer tax (GSTT) exemption at $15 million for transfers…...
Sec. 174: The OBBBA and growing state tax disconformity
1+ mon, 7+ hour ago (167+ words) Editor: Alexander J. Brosseau, CPA Anyone reading this far would be excused in thinking that whether a state will follow the current and transition catch'up rules of Sec. 174 A is already complex. However, a new issue must be grappled with from…...