The IRS announced that it will acquiesce in the result of the U.S. Tax Court’s decision in Siemens Medical Solutions USA, Inc. v. Commissioner, which held that the extraordinary disposition ...

The U.S. Tax Court held that a partnership’s conservation easement deduction was limited to $500,000 because its mining-based valuation lacked credible support and sustained a gross valuation ...

The IRS has published a private letter ruling on Treas. Reg. §301.9100 and I.R.C. §754 granting the taxpayer 120 days from the letter’s date to make an election for partnership ...

The IRS has published a private letter ruling on Treas. Reg. §301.9100 and I.R.C. §2056 granting the taxpayer an extension through the filing date of the supplemental Form 706 to ...

The IRS has published a private letter ruling on Treas. Regs. §§301.9100 and 301.7701 granting the taxpayer 120 days from the letter’s date to file Form 8832 electing disregarded entity ...

The U.S. Court of Federal Claims held that a taxpayer’s spouse was a necessary party to his joint-return refund suit because her withholding contributions gave her an interest in any ...

A new question on an IRS draft tax form that asks for filers’ citizen status could discourage taxpayers from filing, risking a dip in tax revenue, former government officials said Monday.

An IRS webpage answers frequently asked questions about its move to suspend penalties for highway use of dyed diesel fuel.

PwC will need to invest in local staff and diversify its client mix and service offerings after a year-long consulting ban in Saudi Arabia weighed on revenue in a key region where competitors have ...

A Ninth Circuit panel Monday questioned whether a tax advisory firm can directly challenge IRS employee retention credit guidance under the Administrative Procedure Act, or whether only denied clients ...