Tax Law News and Insights

Compare And Contrast: How Do The Republican And Democratic Tax Plans Differ?

Published: Oct 24, 2020
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With the presidential election only weeks away, many people are beginning to pay closer attention to each candidate's positions on such issues as the COVID-19 pandemic, health care, the environment and taxes. Among their many differences, President Donald Trump and former Vice President Joe Biden have widely divergent tax proposals....

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IRS Kicks Off Post-Altera Audit Adjustments

Published: Oct 22, 2020
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Taxpayers with cost sharing arrangements ("CSAs") can again expect close audit scrutiny-and potential adjustments-related to their treatment of stock-based compensation ("SBC") costs. On June 22, the Supreme Court denied certiorari in Altera, letting stand the decision of the U.S. Court of Appeals for the Ninth Circuit upholding the validity of the...

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Final Beat Deduction Waiver Regulations Provide Some Relief

Published: Oct 20, 2020
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On September 1, 2020, the Treasury Department and the Internal Revenue Service (IRS) issued final regulations in T.D. 9910 (the "Regulations") permitting taxpayers to waive deductions to reduce or eliminate liability for the base erosion and anti-abuse tax (generally referred to as the "BEAT"). The BEAT was introduced as part...

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