The Tax Adviser

IRS Practice & Procedure

In a letter to Treasury and the IRS, the AICPA seeks changes to tax reporting requirements for partnerships and S corporations. The IRS released initial details on Trump accounts, a new type of IRA ...
The Tax Adviser

Partnership and LLC Taxation

In a letter to Treasury and the IRS, the AICPA seeks changes to tax reporting requirements for partnerships and S corporations. In Soroban Capital Partners, the Tax Court analyzed the roles, ...
The Tax Adviser

S Corporation, Partnership & LLC Taxation

In a letter to Treasury and the IRS, the AICPA seeks changes to tax reporting requirements for partnerships and S corporations. In Soroban Capital Partners, the Tax Court analyzed the roles, ...
The Tax Adviser

Practice Management & Professional Standards

A well-drafted engagement letter provides essential protection and important benefits to CPAs in tax practice and in other engagements and to their clients. In their reasonable reliance on software ...
The Tax Adviser

S Corporation Income Taxation

In a letter to Treasury and the IRS, the AICPA seeks changes to tax reporting requirements for partnerships and S corporations. The IRS may grant a reasonable extension if the taxpayer provides ...
The Tax Adviser

How a CPA and wealth adviser partnership can guide families through transition

A It’s more prevalent and often emerges earlier than many realize. According to the U.S. Census Bureau, the average age of widowhood in the United States is approximately 59, an age when many couples ...
The Tax Adviser

Two Tax Court rulings expose overvalued conservation easements

In the cases, the Tax Court determined the value of a conservation easement donated to charity using the comparable sales method instead of the discounted-cash-flow method.
The Tax Adviser

November 2025 - The Tax Adviser

Final regulations provide comprehensive guidance for tax reporting of transactions involving these increasingly common assets, and the IRS has granted transition relief in key areas.
The Tax Adviser

Preparer’s intent to evade tax extends taxpayer’s limitation period

Stephanie Murrin underpaid her taxes from 1993 to 1999 because her tax preparer, Duane Howell, placed false or fraudulent entries on her tax returns with an intent to evade tax. Murrin did not intend ...
The Tax Adviser

A walk through the step-transaction doctrine

The IRS may apply the step-transaction doctrine, a rule of substance over form, in a variety of taxpayer circumstances to deny tax benefits derived from a series of transactions that should more ...
The Tax Adviser

Private equity and F reorganizations involving S corporations

Prior to the COVID-19 pandemic, the merger-and-acquisition (M&A) market had a string of years of strong activity. Seemingly overnight, COVID-19 changed the M&A landscape, as many transactions were put ...
The Tax Adviser

Guide to expensing HVAC costs

Each year, tax professionals who deal with real estate must evaluate the most recent building expenditures and determine which items should be deducted as a repair expense or capitalized. Of all the ...