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Tax Court holds section 6662(i) is not a separate penalty

Tax Court holds section 6662(i) is not a separate penalty

Section 6662(i) 40% penalty is an enhancement of section 6662(b)(6). Failed approval of section 6662(b)(6) cannot be cured later.
IRS announces end date of faxed submissions for Forms 1139 and 1045

IRS announces end date of faxed submissions for Forms 1139 and 1045

The IRS announced that December 31, 2020 will be the last date to submit tentative net operating loss carryback claims via fax.
FinCEN final rule for banks without a federal functional regulator

FinCEN final rule for banks without a federal functional regulator

Final Rule removes the PATRIOT Act anti-money laundering program exemption for banks that lack a federal functional regulator.
FATF report on virtual assets

FATF report on virtual assets

FATF released red flag indicators to assist in preventing criminal, ML and terrorist financing activities associated with VAs.
The board’s role in change management

The board’s role in change management

The COVID-19 pandemic, economic uncertainty and significant social­ unrest have brought waves of change not seen in more than a century.
2020 year end tax considerations for businesses

2020 year end tax considerations for businesses

Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.
2020 Elections: State and local tax ballot measures to know

2020 Elections: State and local tax ballot measures to know

Looming budget shortfalls coupled with tax-related ballot measures in many states could significantly affect 2021.
Guide to excise taxes: 5 things every business should know

Guide to excise taxes: 5 things every business should know

Excise taxes can have a serious financial impact on business, yet many aren't focused on the potential impacts.
The tax implications of making a GP stakes investment

The tax implications of making a GP stakes investment

GP stakes investments—wherein investors acquire a minority interest in asset managers’ firms—continue to attract interest.
2020 Election preview: Real estate

2020 Election preview: Real estate

With the election approaching, RSM is looking at the economic stakes and the key issues for various industries.
How do I pick the right ERP system for my company?

How do I pick the right ERP system for my company?

You may or may not be surprised to learn that the ERP business is also booming, as companies push their systems to keep up.
Hindsight is 2020: The future of construction

Hindsight is 2020: The future of construction

The construction industry is experiencing rapid transformation. Join RSM as we examine the current and future state of the industry.
IRS procedures for syndicated conservation easement settlements

IRS procedures for syndicated conservation easement settlements

Chief Counsel Notice discusses frequent questions regarding settlement requirements for syndicated conservation easements.
IRS issues new campaigns and regulations for Life Insurers

IRS issues new campaigns and regulations for Life Insurers

IRS has issued two campaigns for Life Insurers and issues regulations on the calculation of life insurance reserves under section 807(d).
Brexit is finally happening: What VAT actions to take before Dec 31?

Brexit is finally happening: What VAT actions to take before Dec 31?

Key actions companies doing business in the United Kingdom should consider as the UK’s transitional period with the EU comes to an end.