The Inflation Reduction Act of 2022 enacted new Internal Revenue Code Sec. 4501, which, effective for repurchases after December 31, 2022, imposes a new 1% excise tax on certain corporate stock repurchases.

California generally adopts the Internal Revenue Code as of January 1, 2015, as modified, which means that it does not conform to many federal tax law changes since that time, including those in the Tax Cuts and Jobs Act (TCJA) of 2017.

A set of guidelines (EU DAC7) that took effect in the European Union (EU) in 2023 addressing the tax transparency of digital platforms brings new compliance obligations to U.S. digital platform operators that facilitate transactions with EU-based sellers or real estate.

The QSBS exemption can be a very powerful component of any investment strategy. Join Andersen May 22 to take a deeper dive into QSBS including usage with Simple Agreement for Future Equity (SAFE) instruments, general planning ideas, and foot-faults that can invalidate QSBS.

Often overlooked in philanthropic planning, the bargain sale can serve as a valuable tool for both taxpayers and charities alike.

In the venture capital and start-up world, Simple Agreement for Future Equity (SAFE) instruments have been used to raise funds by new business ventures since 2013.

Navigating the complexity and breadth of IRS reporting requirements for U.S. individuals with foreign financial investments requires a holistic understanding of the scope of possible penalties, as well as the current state of related IRS enforcement.

Many companies are currently in the process of completing their annual goodwill impairment tests under the requirements of Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 350 Intangibles – Goodwill and Other. In order to comply with Securities and Exchange Commission (SEC) requirements, public registrants are expected to perform an analysis that reconciles the fair value of the reporting unit tested (or reporting units) to the public market capitalization of the company. During the reconciliation process, companies may face several roadblocks that require careful consideration.