- The IRS updated its list of accounting method changes eligible for “automatic” consent procedures and released guidance that includes significant changes and time-sensitive transition rules.
- An individual can’t be an employee and a partner of the same partnership or so says the Department of Treasury in newly released temporary regulations.
- This is the last year FBARs are due in June; next year, the FBAR filing deadline moves to April.
- New IRS regulations would treat certain commonly used related-party debt instruments as stock for US federal income tax purposes and impose new documentation rules for intercompany loans.
- States are beyond annoyed with a court decision in California regarding Bed Bath & Beyond’s store credit.
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