Participants in the Son of BOSS tax shelter have maintained their
perfect losing record in the Tax Court. Thus, another Son-of-Boss
deal has failed to produce its promised loss deductions. ...
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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