Using a QSB can eliminate capital gains tax due on the future business sale if the company is established and stock issued pursuant to Internal Revenue Code Section 1202.

Learn how Section 1250 impacts taxes on gains from depreciated real estate sales, including rules, examples, and key ...

What Is IRS Section 1245? IRS Section 1245 is a tax code provision that governs the depreciation recapture process for certain property types.

Section 1256 contracts include certain regulated futures contracts, foreign currency contracts and non-equity options. These contracts receive a unique tax treatment under the IRS code and are ...

According to the promoters, these trust arrangements receive special tax benefits—and hence, their name—from section 643 (b) of the Internal Revenue Code.

Revenue Ruling 2023-2 has confirmed the position of the IRS that completed gifts to grantor trusts are not eligible for a basis step-up under Section 1014 of the Code upon the death of the grantor.

Until and unless there is action in Congress to facilitate tax exemptions for journalism non-profits, news organizations seeking 501(c)(3) status must learn how to structure their operations to meet ...

Internal Revenue Code Section 181 permits a 100% deduction for the first $15 million of the cost of producing a film that is shot in the U.S. (even before the film is released). While it sounds ...

The revised guidance, published Sept. 12, maintains that state-legal marijuana businesses do not qualify for most common business deductions and credits, per Internal Revenue Code Section 280E.