Tax Section
The NOL Carryback Rules Under the CARES Act
On March 27, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act introduced a number of new provisions to assist businesses and individuals…
The Tax Implications of Three Programs Created by the CARES Act
The landscape of the United States has changed in the past weeks as COVID-19 continues to sweep across our nation. The Federal government attempted to…
IRS Response to COVID-19: Installment Agreements, Offers in Compromise, and IRS Collection Actions
The novel coronavirus known as COVID-19 has changed the world as a global pandemic disrupts the day-to-day business operations of almost every country. The…
Alimony Modifications: Taxation of Alimony Payments Under the 2017 Tax Act
Prior to the 2017 Tax Act, Section 71 provided alimony payments entitled the payor to a deduction and required the payee to include them in taxable income. …
NONTAXABILITY OF WORKING CONDITION FRINGE BENEFITS IN LIGHT OF THE SUSPENSION OF MISCELLANEOUS ITEMIZED DEDUCTIONS
On November 7, 2019, John Hodnette posted an article on the Tax Section’s blog regarding employee educational fringe benefits. As noted in the article,…
FEDERAL INCOME TAX UPDATE
This is the first of two installments of this article. The second installment will soon be posted on the Tax Section blog. I. Damages for Emotional…
S Corporations: Dealing with Accumulated Earnings and Profits
Please send articles for the Tax Section blog to: Herman Spence at [email protected]. By Kerri L.S. Mast C corporation income is generally subject…
Pro Bono Opportunity
Are you looking for a pro bono opportunity where you can use your tax expertise? The NCBA Tax Section is looking for tax attorneys to train selected…
Employee Educational Fringe Benefits Under the 2017 Tax Act
One of the most appealing benefits of working for a university is an educational assistance program. Free or discounted college education is extremely…
The Importance of Purchase Price Allocations in Asset Acquisitions
The maxim “don’t let the tax tail wag the business dog” is often bandied about in the business world. Tax attorneys know, however, there are times,…