The Tax Adviser

Navigating the Form 1099-DA reporting maze

Make sense of the new rules for digital asset reporting, including transition relief for 2025 and safe harbors going forward.
The Tax Adviser

Arthur J. Dixon Memorial and Jonathan Horn Distinguished Service awards

Arthur Auerbach, CPA, CGMA, received the 2025 Arthur J. Dixon Memorial Award, and Cory Perry, CPA, received the 2025 Jonathan Horn Distinguished Service Award.
The Tax Adviser

Return preparer reliance on third-party tax advice

Advisers must be competent, reliable, and free from conflicts of interest for signing preparers to use their advice on a return or claim for refund.
The Tax Adviser

Adequate disclosure on gift tax returns: A requirement for more than gifts

Taxpayers may be subject to the risk that an IRS examination could increase (or create) a gift tax or estate tax liability many years after a gift is made. Practitioners can help clients limit this ...
The Tax Adviser

Revocable trusts and the grantor’s death: Planning and pitfalls

Planning with revocable trusts has become increasingly popular in recent years. In many instances, the motives for using a revocable trust are nontax and include avoiding probate, asset protection ...
The Tax Adviser

Foreign financial asset filing requirements: Coming into compliance

On occasion, taxpayers holding investments in foreign financial assets or with foreign financial institutions may find themselves in the uncomfortable position of realizing that they have failed to ...
The Tax Adviser

Digital asset transactions: Broker reporting, amount realized, and basis

In December 2022, Treasury and the IRS stated that they intended to implement the Infrastructure Act amendments to the Code by issuing new regulations and providing forms and instructions for broker ...
The Tax Adviser

Foreign pension plans and the US-UK tax treaty

Editor: Kevin D. Anderson, CPA, J.D. In an increasingly global economy, workers are experiencing unprecedented mobility. As such, Americans living abroad, even for a limited time, often participate in ...
The Tax Adviser

Partnership distributions: Rules and exceptions

The basic rule for when a partner recognizes gain as a result of a distribution is found in Sec. 731(a)(1), which applies to both current distributions (from current income and activities) and ...
The Tax Adviser

Taxation of undocumented immigrants

Undocumented immigrants venture to the United States from all parts of the world and endure enormous challenges in their new life, ranging from cultural ones to those that are language–oriented in ...
The Tax Adviser

Conversion of a C corporation to an LLC

Only infrequently will it be beneficial for a C corporation to convert into a limited liability company (LLC). Although a conversion allows the C corporation shareholders to continue to have limited ...