Tax practitioners should be familiar with the special rules that apply and issues that can arise when an accounting method change is made while a taxpayer is under IRS examination.

When a parent company forms a wholly owned subsidiary, it controls all of the wholly owned subsidiary's stock. Any losses incurred by a wholly owned subsidiary can be offset by the profits of the ...

On May 22, 2025, the US House of Representatives narrowly passed a sweeping $3.8 trillion tax reconciliation package known as the One Big ...