The window for non-U.S., or foreign, investors to claim they are not subject to U.S. tax on gains stemming from the disposition of an interest in a U.S. partnership remains open. On June 11, 2019, the D.C. Court of Appeals ruled in favor of the taxpayer in Grecian Magnesite Mining Industrial &...
Read MoreLiquidation basis of accounting is generally applicable to both private and public companies when liquidation is “imminent.” Investment companies regulated under the Investment Company Act of 1940 are specifically exempt, as they cannot legally change the way they measure their net...
Read MoreGlobal reporting regimes continue to be a focal point of today’s regulatory environment. However, with the Department of Treasury’s current focus on reviewing existing regulations to reduce unnecessary burdens on taxpayers, pursuant to recent Executive Orders, the IRS and Treasury...
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