Proposed Regulations Address PFIC Rules
The Treasury and IRS have issued proposed regulations on provisions
dealing with passive foreign investment companies (PFICs). Proposed
regulations published on April 25, 2015, also have been withdraw...
Proposed Exception to MEP Unified Plan Rule
Proposed regulations would provide an exception to the unified plan
rule for multiple employer plans (MEPs). The purpose is to reduce
the risk of plan disqualification due to noncompliance by other
Congress takes first steps to tax reform
Tax reform continues to be highly touted in Congress as lawmakers
from both parties call for simplification of countless complex
rules, overhaul of tax rates, and more. At times this year,
IRS focuses on new partnership audit rules
Legislation enacted in 2015 provides new rules for IRS partnership
audits. The new rules are a drastic departure from current rules
and the IRS is hopeful that the rules will simplify the audit
How do I? Set up a like-kind exchange
Under Code Sec. 1031, a taxpayer can make a tax-free exchange of
property held for productive use in a trade or business or for
investment. The exchange must be made for other property that the
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