Member Articles

The current interest rate and economic environment have brought challenges to financial institutions in managing their liquidity risk. Effective contingency liquidity planning is essential, and financial institutions may ...

In the March 6, 2023 Internal Revenue Bulletin the IRS issued a notice stating that it will acquiesce in the decision of the court in a case saying that the oil spill tax is unconstitutional as applied to exports (Trafig ...

Author: Robert Henry The Internal Revenue Service (IRS) issued updated guidance for making the required accounting method changes for specified research and experimental (R&E) expenditures under IRC Section 174. Sec ...

The IRS has issued guidance on new sustainable aviation fuel tax credits that take effect on January 1, 2023. The guidance, Notice 2023-06, includes the following: Definitions of which products qualify as sustainable ...

The Inflation Reduction Act of 2022, which President Biden signed into law on August 16, 2022, reinstates Superfund excise taxes on crude oil and imported petroleum products for the first time since 1995. The changes are ...

The IRS has issued guidance to taxpayers regarding claiming the alternative fuel tax credits for the first three quarters of 2022. IRS Notice 2022-39 provides as follows: Alternative Fuel Credit. A one-time claim must ...