IRC Tag

In a recent Chief Counsel Advice (CCA), the IRS concluded that an employer who misclassified employees as independent contractors could offset FICA taxes owed by the employer with self-employment taxes paid by the workers. Where workers are properly classified as employees, the employer is liable for...

Read MoreRead More

Under IRC section 708(b)(1)(B), a “technical termination” of a partnership occurs when, within any 12-month period, there is a sale or exchange of 50% or more of the total interest in partnership capital and profits.  A technical termination gives rise to a deemed contribution of...

Read MoreRead More

Author:  Jeff Senney A new temporary highway funding bill was recently enacted. Buried in the Act are several tax law changes that have nothing to do with highway funding. Most of the tax changes are effective for the 2016 tax year. Mortgage Interest Reporting. Mortgage lenders must...

Read MoreRead More