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.

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

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 ...

U.S. President Donald Trump speaks next to a portrait of former U.S. President Ronald Reagan during a press conference with Elon Musk (not pictured) in the Oval Office of the White House, in ...