Blogs

Section 743(b) Basis Adjustment: A Guide for Partnerships

Published On:

September 2, 2026

A Section 743(b) basis adjustment aligns a buyer's share of partnership basis with what they paid. Here is how it works and how to compute it.

The Built-In Gains Tax: How an S Corporation Computes the Tax on Built-In Gains

Published On:

September 2, 2026

The built-in gains tax hits a C corporation that converts to an S corporation and sells assets within five years. See how to compute it.

Section 704 Partnership Allocations, Substantial Economic Effect, and Capital Accounts

Published On:

September 2, 2026

Section 704 controls how a partnership allocates income among partners. Substantial economic effect and capital accounts make allocations stick.

Branch Profits Tax

Published On:

September 2, 2026

How branch profits tax applies to foreign corporations, the DEA calculation, treaty benefits, and key tax issues explained simply.

Form 8288 and FIRPTA: A Simple Guide to Withholding Taxes on U.S. Real Property Sales

Published On:

September 2, 2026

Learn how FIRPTA withholding works, when to file Form 8288, and how foreign sellers can reduce their tax bill on U.S. property sales.

Form 8833: Treaty-Based Return Position Disclosure Under Section 6114

Published On:

September 2, 2026

IRS Form 8833 discloses a treaty-based return position under section 6114. See who must file, the exceptions, and the penalty for skipping it.

Subpart F Income and GILTI: How CFC Income Is Taxed

Published On:

September 2, 2026

Subpart F income makes US shareholders pay tax on certain income of a controlled foreign corporation. Here is how it works, and how GILTI fits in.

Form 8802, the Application for United States Residency Certification and Form 6166

Published On:

September 2, 2026

Use Form 8802 to request Form 6166, the IRS residency certification you need to claim income tax treaty benefits and cut foreign withholding.

The Grantor Trust Rules of Subpart E and How Trust Income Is Taxed to the Grantor

Published On:

September 2, 2026

The grantor trust rules decide when the grantor, not the trust, pays income tax on trust income. See how sections 671 to 679 work in plain English.

The Work Opportunity Tax Credit: How the WOTC Works and Where It Stands in 2026

Published On:

September 2, 2026

The Work Opportunity Tax Credit rewards employers who hire from target groups. See how the WOTC works, who qualifies, and its 2026 status.

Texas Franchise Tax: Who Must File and How It Works

Published On:

September 1, 2026

The Texas franchise tax is a privilege tax on entities doing business in Texas. Here is who must file the franchise tax report and how it works.

FICA Tip Credit (Form 8846): A Guide for Employers

Published On:

September 1, 2026

The FICA tip credit lets employers claim a tax credit for Social Security and Medicare taxes paid on employee tips. Here is how Form 8846 works.

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Our Blogs

Section 743(b) Basis Adjustment: A Guide for Partnerships

The Built-In Gains Tax: How an S Corporation Computes the Tax on Built-In Gains

Section 704 Partnership Allocations, Substantial Economic Effect, and Capital Accounts

Branch Profits Tax

Form 8288 and FIRPTA: A Simple Guide to Withholding Taxes on U.S. Real Property Sales

Form 8833: Treaty-Based Return Position Disclosure Under Section 6114

Subpart F Income and GILTI: How CFC Income Is Taxed

Form 8802, the Application for United States Residency Certification and Form 6166

The Grantor Trust Rules of Subpart E and How Trust Income Is Taxed to the Grantor

The Work Opportunity Tax Credit: How the WOTC Works and Where It Stands in 2026

Texas Franchise Tax: Who Must File and How It Works

FICA Tip Credit (Form 8846): A Guide for Employers

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