What Is the Additional Medicare Tax and Who Has to Pay It?
Understand the Additional Medicare Tax, its income thresholds, and how it affects both employees and self-employed individuals.
Investment and Financial Markets
What Is Section 1256 and How Does It Impact Tax Reporting?
Explore how Section 1256 affects tax reporting for certain financial instruments with unique mark-to-market and gain/loss treatment.
What Is a Tax Jurisdiction Code and How Is It Used?
Discover how tax jurisdiction codes function across various levels of government and their role in international tax filing procedures.
What Is IRC 951A and How Does It Impact GILTI Calculations?
Explore how IRC 951A influences GILTI calculations, affecting multinational tax strategies and compliance for qualifying entities.
Article 21(2) of US-India Tax Treaty: Key Provisions and Benefits
Explore the nuances of Article 21(2) in the US-India Tax Treaty, focusing on provisions, residency, and claiming treaty benefits.
What Is the Federal Applicable Rate and How Is It Used?
Understand the Federal Applicable Rate, its calculation, categories, and its role in loans and estate planning.
What Is IRS Publication 590-B and How Does It Apply to IRAs?
Understand IRS Publication 590-B’s role in managing IRAs, including distribution rules, penalties, and rollover options for effective retirement planning.
IRC Section 266: What Are Carrying Charges and How Do They Work?
Explore how IRC Section 266 allows taxpayers to capitalize carrying charges, optimizing tax strategies for property-related expenses.
Rev. Proc. 92-70: Filing Relief Procedures and Key Requirements
Explore the essential guidelines and compliance requirements for filing under Rev. Proc. 92-70, ensuring accurate submissions and avoiding penalties.
IRS Code 721: Nonrecognition of Gain or Loss on Contributions
Explore IRS Code 721, focusing on nonrecognition rules for contributions, partner basis adjustments, and reporting obligations.
What Is Section 181 of the Internal Revenue Code?
Explore Section 181 of the Internal Revenue Code, focusing on tax deductions for film and TV production costs and the implications for investors.
280F Depreciation Limits for Luxury Vehicles Explained
Understand the nuances of 280F depreciation limits for luxury vehicles, including classification, deductions, and compliance requirements.
What Is a 754 Election and When Should Partnerships File It?
Learn when and why partnerships should consider a 754 election to optimize tax outcomes and ensure compliance with IRS regulations.
Section 409A of the Internal Revenue Code: Key Rules and Compliance
Explore the essentials of Section 409A, focusing on compliance, taxation, and key rules for deferred compensation plans.
What Is IRC 41 and How Does It Apply to Research Tax Credits?
Explore how IRC 41 impacts research tax credits, including qualifying activities, expenses, and calculation methods for effective tax planning.
What Is a 1033 Exchange and How Does It Work?
Learn how a 1033 exchange allows property owners to defer taxes after involuntary conversions by meeting specific conditions and timelines.
What Is IRC 125 and How Do Cafeteria Plans Work?
Explore the essentials of IRC 125 and understand how cafeteria plans function, including eligibility, benefits, and tax implications.
What Is a 338(h)(10) Election and How Does It Work?
Explore the nuances of a 338(h)(10) election, its impact on stock purchases, tax implications, and filing requirements.
Section 318 Attribution Rules Explained for Shareholders and Entities
Understand Section 318 attribution rules and their impact on shareholders and entities, including family, entity, and option-related considerations.
What Is Section 45Q and How Does the Tax Credit Work?
Explore how Section 45Q tax credits incentivize carbon capture projects, detailing eligibility, ownership, and filing requirements.