When I first started working at Meadows Collier many years ago, I was amazed at how some of my long-practicing colleagues could not use Westlaw and or Lexis for research. How could they not understand how to use the latest...
One of the many issues contractors must contend with for Texas sales and use tax purposes is whether an improvement to real property qualifies as “maintenance” under the Texas Comptroller’s Contractor Rule 3.291. The...
The passive foreign investment company (PFIC) rules are complex and nuanced. Generally, a U.S. shareholder with a PFIC interest must pay federal income tax on “excess distributions” received from the foreign corporation...
The Internal Revenue Code (Code) contains more than 100 penalties. Used as a means to deter and punish unwanted taxpayer behavior, penalties may apply where a taxpayer files a return late, where a taxpayer pays tax late, or...
Federal income tax laws have allowed theft loss deductions since 1916. Surprisingly, however, there has been a great deal of confusion more recently on whether taxpayers may claim theft loss deductions. Much of this confusion...
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