By: Amanda Wilson The IRS announced yesterday that it examined 6 percent fewer tax returns in 2014 than 2013. In addition, the total number of tax exams for business returns has dropped to the lowest level in eight years. For large corporations, the...

By: Amanda Wilson Here is a brief article that goes into more detail than yesterday's post regarding the recent decision that impacts abandonment losses. The article can be found here.

By: Amanda Wilson Several years ago, many taxpayers faced with underwater partnerships would abandon their partnership interests, thereby triggering an ordinary loss. This ordinary loss was often preferred over the capital loss that would be...

By: Amanda Wilson Earlier this week, IRS Commissioner Koskinen delivered a speech that discussed the challenges that the IRS continues to face as a result of budget reductions. IRS staffing is already down 13,000 full time employees since 2010, and...