Oil drillers win access to public lands and manufacturers get tax breaks, while elite universities face new endowment taxes ...

Group of Seven nations agreed to exempt U.S. companies from a 15% minimum corporate tax rate, the countries said in a joint ...

American companies will be exempt from penalties related to a 2021 global minimum tax deal that President Trump opposes.

“It’s an aggressive and abusive form of tax avoidance used by many large multinational corporations, costing the Commonwealth several hundred million dollars a year in revenue,” said Wise.

As clients' businesses evolve, it sometimes makes sense for them to change how their companies are taxed. And I expect that occasionally you've encountered clients who made a change at one point but ...

An S-corp is a tax election, and eligible LLCs can select this option. Converting an LLC to an S-corp involves filing IRS Form 8832, Entity Classification Election, within a specific timeframe.

The S-corp capital gains tax rate is also governed by a "pass-through" rule. Additionally, the taxes on the sale of a business S-corp have undergone some recent changes, with updates and revisions ...

S-corporations file an annual tax return using Form 1120-S. They include Schedule K-1 information about each shareholder’s share of income, losses, deductions, and credits.

The alleged tax scheme has yet to be substantiated but if proven would be bigger than any previous corporate tax fraud, surpassing Plutus Payroll’s $105 million fraud and the record $135 million ...

Typically, the S corporation gain on the Schedule K-1 (Form 1120S) reported on Schedule E (Form 1040 or Form 1041) and the loss on the Schedule D will net out with no tax due by the estate or the ...