This article explores the strategic use of this election, highlighting its potential to optimize tax outcomes for both trusts and beneficiaries while cautioning against its pitfalls.

In a U.S. parented group with CFCs, the rules under sections 951-965 (i.e., subpart F), require each U.S. shareholder of a CFC to currently include in income its pro rata share of the CFC’s subpart F ...

Changes in the Proposed Regulations create not only additional administrative burdens for taxpayers, but also can result in gain recognition on a distribution even if there is sufficient total basis ...

Last month, the agency revised the draft 7217 with the title "Partner's Report of Property Distributed by a Partnership." This is a new form for distributions to partners during tax year 2024. The ...

ATLANTA--(BUSINESS WIRE)--Logility Supply Chain Solutions, Inc. (NASDAQ: LGTY) has determined that certain 2024 distributions are considered to be return of capital (non-dividend) distributions. This ...