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

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

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

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.

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 December 2022, Treasury and the IRS stated that they intended to implement the Infrastructure Act amendments to the Code by issuing new regulations and providing forms and instructions for broker ...

Under Sec. 213(a), taxpayers may deduct expenses paid during the tax year for medical care, provided these expenses are not compensated by insurance or otherwise. The deduction is available for ...

Editor: Jessica L. Jeane, J.D. While Harper ultimately prevailed, the case underscored a broader issue: Taxpayers cannot expect IRS audit action to validate claims that are procedurally weak at filing ...

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 ...

Editor: Robert Venables, CPA, J.D., LL.M. Foreign persons investing in U.S. real estate face unique tax complexities under the Internal Revenue Code. Navigating these complexities is crucial to ...

Sec. 1361 sets forth the basic qualifications for S corporation status. Among the most important are the limitation on types of shareholders and restrictions to a single class of stock. Tax Court ...