Page 220 - TaxAdviser_2022

Volume 53, Number 5 May 2022

TAX CLINIC

Maximizing the benefits of
general business tax credits .......... 7
Considerations for
multinationals with US and
Maltese operations ....................... 10
Customs duty refunds on
transfer-pricing adjustments ........ 14
Differences between transfer
pricing and financial reporting
valuations ...................................... 16
Tax planning and
considerations: S corporation
targets ............................................ 19
Trusts as S corporation
shareholders .................................. 21
Cryptoasset transactions:
State corporate income tax
32 Reporting cash receipts over $10,000 implications ................................... 23

By Susanne Holloway and Michael A. Schuldt State tax considerations
around the sale of a
Any person who, in the course of a trade or business, receives cash in excess of partnership interest ....................... 25
$10,000 in one or multiple related transactions generally must file an information
return with the IRS. This article discusses the details of the reporting requirement, Accounting method changes
providing numerous examples, and offers recommendations for practitioners when for small business taxpayers ........ 27
advising clients about their reporting obligations for cash receipts over $10,000.
DEPARTMENTS
42 Trusts for holding S corporation

interests: QSSTs vs. ESBTs CASE STUDY ................................ 46
By James G. Blase CAMPUS TO CLIENTS ................. 50

Both an electing small business trust (ESBT) and a qualified Subchapter S trust TAX TRENDS ................................. 56
(QSST) can hold stock in an S corporation, but there are significant differences
between the two types of trusts and their tax treatment. This article discusses Tax News
the advantages and disadvantages of each type of trust in estate planning.
For the latest tax news, visit
TheTaxAdviser.com.
On the cover and above: Photos by Vieriu Adrian/iStock

2 May 2022 The Tax Adviser