The Tax Adviser—the magazine of planning, trends, and techniques—reports and explains federal tax issues to tax practitioners.

Taxpayers are shifting back toward human tax professionals, with trust in AI for filing slipping across every generation, survey shows.

Requested guidance can be provided through modifications to Rev. Proc. 2025-28 and/or other published guidance.

The convergence of accelerating inflation and heightened tariff costs creates optimal conditions for adopting LIFO, but taxpayers need to understand the benefits and act promptly.

Editor: Susan M. Grais, CPA, J.D., LL.M. The presidential report notes that “the IRS does not have authority to require digital asset exchanges to report on controlling persons of many shell companies ...

To understand the implications of in–kind distributions and the Sec. 643(e)(3) election, it helps to first review how income is taxed at the trust and beneficiary levels. One of the unique features of ...

In December 2022, Treasury and the IRS stated that they intended to implement the Infrastructure Act amendments to the Code by issuing new regulations and providing forms and instructions for broker ...

First, ordinary income and such undistributed income of the trust for prior years; Second, capital gain (including unrecaptured Sec. 1250 gain and gain on collectibles taxed at 28%) and such ...

Sec. 1361 sets forth the basic qualifications for S corporation status. Among the most important are the limitation on types of shareholders and restrictions to a single class of stock. Tax Court ...

Editor: Mary Van Leuven, J.D., LL.M. Mary Van Leuven, J.D., LL.M., is a director, Washington National Tax, at KPMG LLP in Washington, D.C. For additional information ...

This article examines the final regulations governing microcaptive insurance arrangements and their effect on taxpayers and their advisers. For background, this article also provides an overview of ...

Taxpayers may be subject to the risk that an IRS examination could increase (or create) a gift tax or estate tax liability many years after a gift is made. Practitioners can help clients limit this ...