The Tax Adviser—the magazine of planning, trends, and techniques—reports and explains federal tax issues to tax practitioners.

Editor: Rochelle Hodes, J.D., LL.M. Most lenders are understandably wary of holding operating assets or taking an equity position in a business; after all, they are lenders and have a different risk ...

First, ordinary income and such undistributed income of the trust for prior years; Second, capital gain (including unrecaptured Sec. 1250 gain and gain on collectibles taxed at 28%) and such ...

The tax profession is standing at a critical inflection point. With sweeping changes on the horizon, including major new tax legislation, evolving IRS priorities, emerging technology such as ...

The Tax Court held that a company properly treated as an ordinary deduction (and not a capital loss under Sec. 1234A) a $1.6 billion termination fee payment it made to another company pursuant to a ...

The Supreme Court, reversing the Third Circuit, held that the Tax Court lacks jurisdiction over appeals from Collection Due Process (CDP) hearings when there is no longer an ongoing levy under Sec.

This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending April 2025. Architecture and engineering ...

Editor: Rochelle Hodes, J.D., LL.M. On May 18, 2023, the AICPA Tax Executive Committee (TEC) unanimously adopted the updated Statements on Standards for Tax Services (SSTSs), effective Jan. 1, 2024.

Prior to the law change, an Illinois investment partnership was a partnership under federal income tax law that met the following tests: Under the prior law, qualifying investment securities were ...

Various provisions have been enacted to prevent abuses in transactions involving related parties. A practitioner applying one of these sets of rules should be careful to understand exactly how ...

Applies only to net income taxes (not to franchise, gross receipts, or capital stock taxes); Applies only to sales of tangible personal property, excluding services and digital goods; and Does not ...

Editor: Rochelle Hodes, J.D., LL.M. In January 2025, the U.S. Senate Finance Committee released a discussion draft of the Taxpayer Assistance and Service Act (TAS Act). The TAS Act is bipartisan ...