Collier, Johnson & Woods, P.C.

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Senate Tax Writers Discuss Bipartisan Retirement Savings Bills; Related House Vote Expected Soon
Senate tax writers on Capitol Hill continue to discuss bipartisan retirement savings bills as the House gears up for a vote on a related tax measure....

Trump, Democratic Leaders Agree to Develop $2 Trillion Infrastructure Plan
President Donald Trump and Democratic congressional leaders have agreed to develop a $2 trillion infrastructure plan, according to Senate Minority Leader Chuck Schumer, D-N.Y....

Proposed Regulations Issued on Withholding on Foreign Partner's Disposition of Partnership Interest
Highly anticipated proposed regulations have been issued on the withholding required with respect to the disposition of certain partnership interests. The proposed regulations affect certain foreign p...

Proposed Regulations Issued on CFC Related Person Rules and Active Trade or Business Exception
Proposed regulations provide rules on the attribution of ownership of stock or other interests for determining whether a person is a related person with respect to a controlled foreign corporation (CF...

Final Regulations Issued on Recognition and Deferral of Code Sec. 987 Gain or Loss
Final regulations have been issued on transactions of U.S. taxpayers that have qualified business units (QBUs) with functional currency other than the U.S. dollar....

Medicaid Waiver Payments Were Earned Income Even Though IRS Excluded Them From Gross Income
Medicaid waiver payments were earned income, even though IRS Notice 2014-7 treated them as “difficulty of care” foster care payments that were excluded from gross income. The Tax Court hel...

How Do I? Get back start-up expenses in starting a business as quickly as possible
The American Jobs Creation Act of 2004 (2004 Jobs Act) changed the rules for start-up expenses in both favorable and unfavorable ways. Start-up expenditures are amounts that would have been deductible...

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