Tax Notebook Blog

Gray Line

Visit the Boutin Jones Tax Notebook to learn about the latest developments and rulings in California and federal tax law.

The Coming FinCEN Reporting Requirements

On December 7, 2021, Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking which promulgated proposed…

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The Pass-Through Entity Tax (AB 150) and SB 113 Amendments

Introduction In July 2021, California passed Assembly Bill 150, which contained the Small Business Relief Act, adding…

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The IRS Wishes LIBOR a Fond Farewell with Final Regulations

Introduction LIBOR (London Interbank Offered Rate) has been universally used as a reference interest rate for contracts…

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Divide and Conquer—A Primer on Partnership Divisions

Partnership divisions under IRC Section 708(b)(2)(B) can be useful in several contexts. Partnership divisions are also quirky,…

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Appellate Court Finds Federal Conservation Easement Regulation Invalid

The Eleventh Circuit Court of Appeals recently invalidated a technical provision in the Treasury Regulations controlling conservation…

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California Registration and Taxation of Foreign Entities

Introduction. When must a foreign entity (i.e., a corporation, LLC, or limited partnership formed under the laws…

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Claiming the Employee Retention Credit for Past Quarters Using Form 941-X

The Employee Retention Credit (ERC) is a tax credit available to employers who have seen a reduction…

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IRS Excludes Cryptocurrency Exchanges From Section 1031

Cryptocurrency is cool these days. And since this Tax Blog aspires to be cool (with mixed results),…

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Revenue Ruling 99-6 and Section 1031: Bob and Jon’s Excellent Adventure—Part II

Bob and Jon were the members of Apartment LLC, an LLC taxed as a partnership, with Bob…

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