Consider maintaining a system of the consent forms obtained with the expiration dates noted. Generally, consents are effective for one year unless the taxpayer specifies a shorter period. The ...

On Wednesday, the IRS issued two revenue rulings (Rev. Ruls. 2010-4 and 2010-5) that provide guidance to tax return preparers on situations in which they will not be liable for civil or criminal ...

In a related news release, the IRS released a draft version of proposed Form 7216, “Multi-Year Reporting Related to Section 355 Transactions,” which under the proposed regulations is required ...

In conjunction with the proposed guidance, the IRS posted a draft version of a new Form 7216, Multi-Year Transaction Reporting.The proposed regulations offer authoritative guidance on the provisions ...