The Tax Adviser

Applying updated ASC Topic 740 requirements for the income tax footnote

In an effort to increase the transparency and usefulness of the income tax footnote disclosures, FASB promulgated Accounting ...
The Tax Adviser

Practitioner engagement letters: Strategies for increasing compliance

A well-drafted engagement letter provides essential protection and important benefits to CPAs in tax practice and in other ...
The Tax Adviser

Late election relief in recent IRS letter rulings

The IRS may grant a reasonable extension if the taxpayer provides satisfactory evidence of acting reasonably and in good ...
The Tax Adviser

Two Tax Court rulings expose overvalued conservation easements

In the cases, the Tax Court determined the value of a conservation easement donated to charity using the comparable sales ...
The Tax Adviser

IRS approves medical deduction for IVF, denies it for surrogacy

(a), taxpayers may deduct expenses paid during the tax year for medical care, provided these expenses are not compensated by ...
The Tax Adviser

How a CPA and wealth adviser partnership can guide families through transition

Michelle Buria, CFP®, MPAS®, AAMS®Managing Director, Wealth Management ChoreoMichelle is a managing director, Wealth ...
The Tax Adviser

The ongoing fight against frivolous tax arguments

Taxpayers who make frivolous arguments in Tax Court risk the imposition of penalties by the court of up to $25,000.
The Tax Adviser

IRS releases Whistleblower Office operating plan

The plan’s promised enhancements include improving claims submittal and processing and communication with whistleblowers.
The Tax Adviser

November 2025 - The Tax Adviser

Final regulations provide comprehensive guidance for tax reporting of transactions involving these increasingly common assets ...
The Tax Adviser

Preparer’s intent to evade tax extends taxpayer’s limitation period

Stephanie Murrin underpaid her taxes from 1993 to 1999 because her tax preparer, Duane Howell, placed false or fraudulent entries on her tax returns with an intent to evade tax. Murrin did not intend ...
The Tax Adviser

Tax-advantaged ABLE accounts for disabled individuals

The Achieving a Better Life Experience (ABLE) Act of 2014 allows states to establish an ABLE program to assist persons with disabilities in building up tax – free (or in some cases tax – deferred) ...
The Tax Adviser

Notice 2025-27 provides interim guidance on corporate AMT

The notice provides an optional interim simplified method of determining whether a corporation is an applicable corporation for purposes of the corporate AMT and relief from the Sec. 6655 penalty for ...