The U.S. Court of Appeals for the Seventh Circuit held that a taxpayer could not pursue damages under I.R.C. §7434 based on an allegedly fraudulent Form 1099-C, Cancellation of Debt, ...

The U.S. Court of Appeals for the D.C. Circuit held that a taxpayer could not exclude the entirety of a settlement payment from gross income under I.R.C. §104(a)(2) and affirmed ...

The IRS has issued a private letter ruling on I.R.C. §754 and Treas. Reg. §301.9100 granting a partnership a 120-day extension to file a Section 754 election for basis adjustments ...

The U.S. Tax Court held that a taxpayer was liable for a deficiency arising from $140,064 in unreported retirement account distributions for 2019 and for additions to tax for failure ...

The U.S. Tax Court held that a taxpayer had $24,000 of unreported taxable income because he failed to establish that the IRS’s bank deposits analysis was inaccurate. The taxpayer originally ...

Target date funds have become the dominant default investment option in employer-sponsored retirement plans, which has given rise to a wave of ERISA class action litigation challenging the prudence ...

The Cuban Official Gazette Oct. 1 published Resolution No. 200/2026, establishing an accelerated depreciation expense deduction regime for specified fixed assets. The resolution includes measures: 1) ...

The IRS is reconsidering regulations that dictate how consolidated groups containing both life and nonlife insurance companies file their tax returns.

A federal district court wrongly relied on federal law when it dismissed a group of Michiganders’ cases seeking recovery of surplus proceeds a county retained after foreclosing on their homes, the US ...

Companies are increasingly missing deadlines to pay the stock buyback excise tax, an IRS official said Monday.

President Donald Trump is preparing to ease limits restricting the use of a tax-exempt variety of diesel, his latest bid to pare costs for the essential fuel ahead of the November midterm elections.

The U.S. Tax Court held that a whistleblower was not entitled to an award under I.R.C. §7623(b) because the IRS did not collect any proceeds from the administrative action initiated ...