LexisNexis® Legal Newsroom
Deanne Morton
Tax Reform Policies of the Presidential Candidates

INTRODUCTION When the Tax Reform Act was enacted 30 years ago, Congress was able to implement major tax reform by collaborating across bipartisan lines. [1] It was the last time the Internal Revenue Code underwent a major overhaul, and the elements...

LexisNexis Tax Law Community Staff
Dodd-Frank and Oil & Gas Audit Fees

by Max Choi, Dr. Rudolph Jacob and Dr. Susanne O'Callaghan * The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"), was passed in response to the financial crisis of 2007-2009. The purpose of this exploratory...

LexisNexis Tax Law Community Staff
New Law Allowing IRS to Seize Passport

by Mark A. Muntean * Introduction A new law allows the Internal Revenue Service ("IRS" or the "Service") to revoke or deny passports for certain taxpayers who owe unpaid federal taxes. This change to the tax law was included...

Diane L. Mutolo
Application of the Accuracy-Related Penalty to an Inconsistent Estate Basis

Last year, IRC Section 1014 was amended by the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 to provide that the basis of inherited property must be consistent with the estate tax return. [Pub L No 114-41, 114th Cong,...

LexisNexis Tax Law Community Staff
Subchapter K: In or Out?

by Dmitriy Kustov CPA EA MS Tax * Sub K's Cubist Period The word, "partnership," has so many common place meanings and could mean so much these days that we should not blame those taxpayers who do not understand all the technicalities...

Neil Aragones
Temporary Regs Take on Previously Unaddressed Inversion Issues

The IRS and Treasury recently issued the latest set of rules aimed at corporate inversions. The temporary, proposed, and final regulations target: (1) transactions structured to avoid the objectives of IRC Section 7874 ; and (2) certain post-inversion...