During the past two years I have received a number of emails regarding the Business Activity Tax. This tax was put in place as a token $25 tax because of a ruling by the state court system. The court ...

Intangible drilling and development costs (IDCs) are capital in nature; however, the IRC and regulations provide alternatives for treatment of such costs. The individual or entity that holds the ...

The U.S. Congress will soon consider whether to extend the tax cuts enacted in the 2017 Tax Cuts & Jobs Act that are set to expire at the end of 2025. One of those expiring tax cuts grants a ...

THE IRS SAYS DISTRIBUTIONS of customer-based intangibles to shareholders are taxable. When a firm or corporation distributes to its shareholders all of its assets, both tangible and intangible, and ...

On May 2, 2023, the Department of the Treasury and Internal Revenue Service (“IRS”) issued proposed Treasury Regulations (REG-124064-19) that would, in certain cases, terminate the application of ...

Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise prose. For a link to our podcast covering the Tax Court ...

The Tax Court addressed the proper treatment of an accounting firm’s distributions of “client-based” intangible assets, the capital accounting rules of Regs. Sec. 1.704-1(b)(2)(iv), and the tests for ...

We study international spillovers of corporate tax reforms in a fragmented global tax regime. Using firm-level evidence on the 2017 U.S. Tax Cuts and Jobs Act (TCJA) and a quantitative ...

Learn about acquisition adjustments, their role in M&A premiums, and how they impact asset valuation, depreciation, and corporate taxes.