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Tax Regulations Subject to New 2-1 Rule

By Amanda Wilson on Jan 31, 2017 in audit, International, IRS, lowndes, Partnership Tax, regulations, taxing times, treasury

By:  Amanda Wilson Yesterday, President Trump signed an executive order that requires government agencies to identify two regulations for repeal for every new regulation that they wish to issue.  This order applies to tax regulations (including...

Ryan Says Tax Reform Coming, But Later This Year

By Amanda Wilson on Jan 30, 2017 in Congress, government, International, IRS, medical marijuana, Obama care, tax code, tax reform, taxing times

By: Amanda Wilson On Friday, House Speaker Ryan stated publicly that tax reform legislation will be included in one of two must pass budget resolutions this year, but it will be included in the fiscal 2018 budget resolution rather than in the...

IRS Pulls Proposed Partnership Audit Regulations

By Amanda Wilson on Jan 25, 2017 in IRS, lowndes, Partnership Tax, tax audit

By:  Amanda Wilson As I previously discussed (here), the IRS released last week long awaited regulatory guidance addressing the new partnership audit rules.  The status of these proposed regulations is unclear, though, as the IRS officially withdrew...

IRS Reduces Built-in Gains Tax Period for REITs to Five Years

By Amanda Wilson on Jan 18, 2017 in Real estate, Congress, International, IRS, path act, REIT, S Corporation, Tax

By:  Amanda Wilson One of the key benefits of a real estate investment trust ("REIT") is that it is effectively a pass through entity for income tax purposes.  While a REIT pays tax on its taxable income, it also receives a dividends paid deduction...