Tax Watch: Cost of defending IPO suit can’t be expensed
The Internal Revenue Service has concluded that a company’s legal costs for defending a class action stemming from…
Tax Watch: IRS warns tax protesters of stiff penalties
The Internal Revenue Service and the Department of the Treasury are aware that “certain persons” are promoting the…
Tax Watch: Treasury is mapping a simplified tax system
The Department of the Treasury is beginning to work on tax reform, and plans to consider a replacement…
Tax Watch: Tax deferral sought for small growth businesses
Testifying before a joint House subcommittee recently, Douglass Tatum, CEO of Tatum CFO Partners LLP in Atlanta, presented…
Tax Watch: IRS still not ready to measure compliance
The General Accounting Office recently reported on the status of the Internal Revenue Service’s efforts to develop measures…
Dilemma for IRS: How big can a hedge be?
To qualify as a hedging transaction, must a hedge be proportionate in size to the volume of the…
Tax Watch: In wake of new tax law, time for planning
It’s number crunching time! Tax planning will be driven by projections of the impact of changes in the…
Tax Watch: IRS making it easier to change the tax year
The Internal Revenue Service has issued proposed revenue procedures that would allow partnerships, S corporations, electing S corporations…
Tax Watch: IRS chief agrees service is not meeting goals
The Internal Revenue Service might be taking steps to address its failings, but Commissioner Charles O. Rossotti says…
Tax Watch: House panel urges tax break for fund holders
In a recently released report, Congress’ Joint Economic Committee recommends changing the tax treatment of capital gains distributed…