Small business users of QuickBooks may rarely, if ever, need to make a journal entry in their books. A journal entry splits a transaction into two parts, recording a debit for one account and an equal ...

The IRS on Tuesday issued guidance regarding the amount of the Sec. 6707A penalty for failure to disclose reportable transaction information (T.D. 9853). Tuesday’s final regulations adopt a definition ...

The Tax Court held that a taxpayer couple’s short sale did not result in a deductible loss because the sale of the house and the subsequent debt cancellation were both part of one transaction rather ...

This Checklist assumes that the signing of the principal transaction document precedes the closing of the transaction, as is common in most M&A transactions. Parties often need time after signing to ...