On August 14, TEI responded to a request for comments concerning proposed regulations under Section 6418 regarding the transferability of certain credits to unrelated taxpayers. TEI’s comments included concerns about burdensome registration and election requirements and about provisions that substantially limit the taxpayers’ ability to take advantage of the credit transfer regime, as well as requests for clarification on he reasonable cause exception for excessive credit transfers, on a potential trap for the unwary regarding the “paid in cash” requirement, and on a filing issue for taxpayers with a 52/53 week year-end, plus a request for additional guidance on audit procedures and enforcement mechanisms.
Tax Data Takes Center Stage As TEI members know all too well, when it comes…
Excising Stock Buybacks From the Corporate Playbook On August 16, 2022, the Inflation Reduction Act of 2022…
TEI Roundtable No. 44: Leadership Development and Succession Planning As we’ve learned from the fabulous TV series Succession, leadership…
Kristina Capretta Kristina Capretta, senior tax manager at PepsiCo Canada and the…
Administrative Challenges Multistate Businesses Face—and Potential Solutions Since the beginning of time, multistate taxpayers have faced significant…
The Shifting State of US Tax Leadership In the May 29 edition of Tax Analysts’ Tax Notes…