Temporary Regulations Clarify Employment Tax Treatment of Partners in Partnership That Owns a Disregarded Entity

The IRS has issued temporary regulations under Code Sec. 7701 to clarify that a disregarded entity that is treated as a corporation for employment tax purposes is not treated as a corporation for purposes of employing an individual who is a partner in a partnership that owns

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Bill Introduced to Increase Foreign Investment in U.S. Real Estate

On Thursday, April 30th, two senior members of the House Ways and Means Committee, Kevin Brady, R-Tex., and Joe Crowley, D-N.Y., reintroduced legislation, the Real Estate Investment and Jobs Bill of 2015 (HR 2128), that would remove a 1980s era tax provision that discourages foreign investment in U.S.

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Six Key Business Tax Issues To Watch For in 2015

As companies assess the political landscape for 2015 they will also find an evolving economic outlook, and a heightened focus on tax transparency that could add “incredible uncertainty” to the tax outlook in 2015, says KPMG. Therefore, business executives will need to keep a close eye on

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Projected Flat IRS Budget for FY 2015 Raises New Concerns

The IRS’s anticipated fiscal year (“FY”) 2015 budget took center stage at the IRS Oversight Board’s last meeting of 2014. Senior IRS officials remain concerned about potential funding reductions in FY 2015 but are committed to implementing unfunded mandates, such as the Patient Protection and Affordable Care

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IRS Announces Interest Rates Unchanged for Calendar Quarter Beginning January 1, 2015

In Revenue Rulings 2014-111 and 2014-29, the IRS has announced that the interest rates for the calendar quarter beginning January 1, 2015, will remain at 3 percent for overpayments (2 percent in the case of a corporation), 3 percent for underpayments and 5 percent for large corporate

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