Taxpayers are shifting back toward human tax professionals, with trust in AI for filing slipping across every generation, ...

The convergence of accelerating inflation and heightened tariff costs creates optimal conditions for adopting LIFO, but taxpayers need to understand the benefits and act promptly.

Requested guidance can be provided through modifications to Rev. Proc. 2025-28 and/or other published guidance.

Early termination of the clean energy investment credits for solar and wind under the law known as the One Big Beautiful Bill Act means projects must start construction by July 4, 2026.

Editor: Susan M. Grais, CPA, J.D., LL.M. The presidential report notes that “the IRS does not have authority to require digital asset exchanges to report on controlling persons of many shell companies ...

To understand the implications of in–kind distributions and the Sec. 643(e)(3) election, it helps to first review how income is taxed at the trust and beneficiary levels. One of the unique features of ...

In Zuch, Jennifer Zuch and Patrick Gennardo were married from 1993 to 2014. In September 2012, they delinquently filed separate returns for the 2010 tax year. Prior to filing these returns, in June ...

Editor: Susan M. Grais, CPA, J.D., LL.M. Treasury and the IRS in September released proposed regulations (REG–110032–25) with guidance on the new federal income tax deduction for tips, which was ...

A corporation’s annual charitable contribution deduction cannot exceed 10% of the corporation’s taxable income Sec. 170(b)(2)(A)), computed without regard to the following (Sec. 170(b)(2)(D)): Law ...

Given the charitable contribution deduction floors, donors may benefit from combining multiple years of charitable contributions into a single year. This strategy, known as bunching, helps exceed the ...

Editor: Susan M. Grais, CPA, J.D., LL.M. The IRS found in Letter Ruling 202533005 that a community trust and a nonprofit corporation that is controlled by the trust and supports the trust’s charitable ...