Insights

Once again we approach the end of a year following the so-called “Tax Extenders” legislation, which addresses federal tax incentives that expire on December 31 of each year, unless renewed by Congress. The2014 bill was enacted with retroactive effect in mid-December 2014 and expired on December 31, 2014. Will Congress…

The Internal Revenue Code prescribes minimum imputed interest rates and time-value-of-money factors applicable to certain loan transactions and estate planning techniques. These rates are tied formulaically to market interest rates. The Internal Revenue Service updates these rates monthly. These are commonly applicable rates in effect for December 2015: Short Term AFR…

On November 2, 2015, President Obama signed into law The Bipartisan Budget Act of 2015 (H.R. 1314) which, among other things, imposes a new audit regime on tax partnerships beginning in 2018. Under the new regime, unless a partnership is eligible to elect out and does so timely, IRS can…

The great commentator—and occasional baseball player—Yogi Berra may have left us behind, but Congress continues to prove his words prophetic. For yet another year, we are in the fourth calendar quarter awaiting federal tax legislation designed to spur economic activity as of the preceding January. Last year we followed the…