For U.S. tax purposes, digital assets are considered property, not currency. A digital asset is stored electronically and can be bought, sold, owned, transferred, or traded. The tax definition of a digital...
Manufactured housing communities (MHCs), also commonly referred to as mobile home parks, continue to increase in popularity, while state and local regulations governing them also continue to expand. Read...
Parties come together to form joint ventures when all involved believe that they will have greater success working cooperatively on a specific project, product, or business than they would have if they...
Learn best practices for advocating on behalf of your FDA-regulated clients in light of the new legal paradigm introduced by the Supreme Court’s decisions in Loper Bright and Corner Post . Read...
Do you need to learn about potential legal and business risks stemming from the use of artificial intelligence (AI) tools to manage employee performance and make employment decisions (e.g., screening,...
Review the fundamentals of the global intangible low-tax income (GILTI) and the foreign-derived intangible income (FDII) tax regimes. GILTI and FDII were both created by the Tax Cuts and Jobs Act of 2017 (TCJA). Pub. L. No. 115-97. The TCJA enacted I.R.C. Section 951A, which requires U.S. shareholders who own (within the meaning of I.R.C. Section 958(a)) a CFC to include GILTI in gross income. Form 8992 is used by a U.S. shareholder to calculate the amount of the GILTI inclusion and to report related information.
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