income tax Tag

The US Tax Court in Rosenberg v. Commissioner, TC Memo 2019-124 has ruled that an IRA distribution, made after a couple divorced, was taxable and subject to the 10% excise tax because: (1) no exception to the 10% excise tax applied and (2) the Court...

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In Chief Counsel Advice 201547006, the IRS analyzed whether an employer may exclude from an employee's gross income, the payment of premiums for health insurance coverage provided through the group health plan of the employee's spouse.   The IRS concluded that the payments may be excluded,...

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Family-owned businesses offer certain advantages not always available in larger publicly-held businesses. These advantages generally include close contact with upper management, less bureaucracy, built-in trust among officers, board members and shareholders, and the opportunity for hands-on training, mentoring and early exposure of the younger generation...

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