document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service is warning against the use of so-called “micro-captive transactions” and similar transactions as potentially abusive. In such transactions, taxpayers try to reduce their aggregate taxable income using insurance contracts and captive insurance companies. Each entity that the parties treat as an insured entity under the contracts […]

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The Internal Revenue Service has taken steps to improve the offer in compromise process for both taxpayers and the IRS, but it can still do more, according to a new report. An offer in compromise is an agreement between a taxpayer and the IRS that settles a tax liability for a payment of less than […]

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document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Are you ready for the 8th? Backtaxeshelp: Our favorite opening of the week: “Are you ready for this election to finally be over?” As the insult to our intelligence drags into its final hours, a last look at […]

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