The Tax Adviser

2026 tax software survey

Drake Tax and Lacerte swapped places in that order compared to last year’s survey, with Drake Tax dropping 2 percentage points and Lacerte gaining nearly a point. Also notable was CCH Axcess Tax’s ...
The Tax Adviser

Current developments in taxation of individuals: Part 2

In State of New Jersey v. Bessent, 2 the Second Circuit upheld IRS regulations that significantly limit the deductibility of contributions to state–administered charitable programs when taxpayers ...
The Tax Adviser

Circuit courts split on home-distilling ban

While the Sixth Circuit held that the ban on distilling spirits in a home was a necessary and proper means of collecting the federal excise tax on distilled spirits and thus was constitutional, the ...
The Tax Adviser

What today’s clients expect from their CPA and how firms are responding

Bob Nolan shares insights from more than 20 years in the profession on how client expectations are evolving and what firms need to consider. Bob graduated from Northern Illinois University and lived ...
The Tax Adviser

Taxation of Estates & Trusts

The final regulations target arrangements that the IRS says improperly use charitable remainder annuity trusts and annuities to eliminate ordinary income and capital gain on the sale of property.
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Gift Tax

Care must be exercised to ensure all the applicable requirements are met when making a deceased spoused unused exemption election, as a recent Tax Court decision highlights. The guidance sets forth ...
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S Corporation Income Taxation

A Type D tax-deferred spinoff or split-off followed by an S election may be available if the reorganization meets the requirements of Sec. 355 and Sec. 368(a)(1)(D), including a valid corporate ...
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Estate Tax

Care must be exercised to ensure all the applicable requirements are met when making a deceased spoused unused exemption election, as a recent Tax Court decision highlights. In estate planning, ...
The Tax Adviser

Formation, Liquidation & Reorganization

A Type D tax-deferred spinoff or split-off followed by an S election may be available if the reorganization meets the requirements of Sec. 355 and Sec. 368(a)(1)(D), including a valid corporate ...
The Tax Adviser

Election, Termination & Conversion

A Type D tax-deferred spinoff or split-off followed by an S election may be available if the reorganization meets the requirements of Sec. 355 and Sec. 368(a)(1)(D), including a valid corporate ...
The Tax Adviser

S Corporation, Partnership & LLC Taxation

These distribution provisions for sharing earnings between private fund managers and investors can clash with Sec. 704 partnership rules in certain ways. A Type D tax-deferred spinoff or split-off ...