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Volume 53, Number 7 July 2022
TAX CLINIC
Implications of legislative
changes for R&E and software
development costs ......................... 7
Gain recognition agreements:
US corporation’s transfer of a
foreign corporation followed
by the foreign corporation’s
disposition of its assets .................. 9
Nonliquidating distributions:
Ways to determine basis .............. 12
A practical guide to
partnership division planning ....... 14
Interest claim limitation
periods, including for ‘net rate’
netting claims ................................ 16
Sec. 451 regulations offer
ways to reduce revenue
acceleration ................................... 19
DEPARTMENTS
DC CURRENTS ............................ 36
TAX PRACTICE &
PROCEDURES ............................. 40
CASE STUDY ................................ 44
22 Current developments in TAX TRENDS ................................. 48
S corporations
By Andrew M. Brajcich, Kristin Hill, Robert W. Jamison Jr., Robert S. Keller, Kirk T. Mitchell,
Tax News
Kenneth N. Orbach, Alexander Scott, and Kevin J. Walsh
This update on recent developments in taxation relating to S corporations includes For the latest tax news, visit
IRS guidance on forgiven Paycheck Protection Program loans and the employee TheTaxAdviser.com.
retention credit, as well as cases and rulings on consent to a corporation’s S election,
creation of a second class of stock, changes in accounting periods, shifting of income,
and other issues.
On the cover: Photo by skodonnell/iStock; above: Image by moi/iStock
2 July 2022 The Tax Adviser
