Taxpayers' Tax Election Regrets
In a variety of contexts, taxpayers can file tax elections that dictate their tax treatment. After filing or not filing a given tax election, a taxpayer might later feel regret.
The Tax Lawyer | Fall 2023
Volume 77, Issue 1
Articles
The Future of Research and Experimentation After the Tax Cuts and Jobs Act
In the Tax Cuts and Jobs Act (TCJA), Congress eliminated the deduction for research and experimental (R&E) expenditures that has been a part of the federal Tax Code since 1954.
Real-World Reform of Partnership Allocations
Section 704(b) and its Regulations allows partnerships a great deal of flexibility on how items of income and deduction are allocated to partners. This flexibility has been heavily criticized over th…