On January 23, 2026, the Internal Revenue Service (the “IRS”) publicly released Field Attorney Advice 20260401F (the “FAA”) 1, in which the Office of Chief Counsel rejected a promoted "charitable LLC" ...

Saad Imran is a personal finance writer with expertise in insurance, loans, credit cards and mortgages. When not writing, he’s a cat enthusiast who loves playtime with his furry companion. Shelby ...

One of the most significant considerations when choosing a business structure for your company is: “Will it give me the most favorable tax outcome?” And the entity type you select impacts how the IRS ...

Are you considering establishing your business as a limited liability company (LLC)? Perhaps your business is growing and becoming more complex. Maybe you wish to manage your exposure to risk as a ...

In late October 2021, the Internal Revenue Service (IRS) issued Notice 2021-56 setting forth requirements for limited liability companies (LLCs) to receive a determination letter from the IRS for ...

Reversing the Tax Court, the Ninth Circuit held that a partnership filed its return when, in response to an IRS revenue agent’s letter, it faxed the agent a signed copy of the return, which the ...

In Field Service Advice Memorandum 0260401F, the Internal Revenue Service concluded that the transfer of non-voting interests in a limited liability company (LLC) to a tax-exempt Internal Revenue Code ...

Business entity type and tax structure impact your organization’s finance and compliance requirements. Two popular choices are limited liability companies (LLCs) and S-corps. Although the arrangements ...