News Updates

We Stay Up-To-Date on Flow-Through Tax News and Precedents So You Don't Have To.

Below you will find recent rulings and updates affecting flow-through taxes and closely-held business structures. If you have any questons on these, or about any updates on other sites, please do not hesitate to reach out to us for further insights.

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Unfavorable Discounting of Split Charitable Bequest

Chuck and Michael opine on Warne v. Commissioner, TC Memo 2021-17, a case that addressed, among other issues, an estate tax charitable deduction.

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New 2020 At-risk Rule Reporting Requirements

Learn about the tax basis capital account reporting requirements.

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Notice 2021-13 and Tax Capital Account Reporting

There are several provisos contained in Notice 2021-13, 2021-6 IRB 1 with regard to the penalty waivers.

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Final §1061 Regulations

Chuck and Michael highlight important changes to the final regulations under the business interest deduction limitations of §163(j).

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Final §163(j) Regulations

Learn about an item of taxpayer relief from the §163(j) business interest deduction limitation regulations.

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None of the authors is rendering legal, accounting or other professional advice. If such advice is required, it is strongly recommended that a professional advisor be engaged.

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