Tax Law News and Insights

On July 3, 2019, the Internal Revenue Service (“IRS”) issued proposed regulations under Internal Revenue Code section 4968. That section, passed as part of the 2017 Tax Cuts and Jobs Act, imposes a 1.4% excise tax on the investment income of certain private colleges and universities. The controversial tax applies not just...

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On July 3, 2019, Treasury and the IRS published proposed regulations on the new excise tax on the net investment income of certain private colleges and universities under section 4968 of the Internal Revenue Code.1 The tax was enacted as part of the Tax Cuts and Jobs Act at the end of 2017....

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The accuracy-related penalty under §§ 6662(b)(1) and (2) of the Internal Revenue Code has been the most-litigated federal tax issue for years, according to the National Taxpayer Advocate's Reports to Congress. It is unlikely to leave this number-one position for the foreseeable future in light of the 2017 Tax Cuts and...

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