An accrual-basis taxpayer normally takes deductions for expenses in the year the item accrues. But when the expense accrued by the taxpayer is owed to a related party who uses the cash basis of ...

Many tax professionals misunderstood the rules governing IRC section 1031 tax-deferred exchange transactions between related parties. This is not surprising since the IRS’s intentions had been unclear ...

On June 17, 2024, the IRS released Notice 2024-54, which states that the IRS and the Treasury Department intend to issue proposed regulations relating to partnership basis adjustments resulting from ...

The American Institute of CPAs is urging the Treasury Department and the Internal Revenue Service to suspend and remove their recently issued final regulations labeling some partnership related-party ...

A Virginia lawmaker has proposed cutting funding to nursing homes that pay “excessive” rents to landlords, including real estate investment trusts, in what could be the first bill of its kind in the ...

Aug 4 (Reuters) - India's markets regulator on Monday proposed that low-value transactions between interconnected entities, or "related parties", no longer need to be disclosed and that only some of ...

The RBI has tightened its framework for lending to related parties by introducing sweeping changes to credit risk management rules. Bank boards are now explicitly responsible for implementing robust ...

Mumbai: The Reserve Bank of India (RBI) on Monday made changes to its October proposals on related party transactions of banks and non-bank financiers, accepting a clutch of suggestions from the ...