Tax proration concerns the division of monetary items within the settlement sheet for real estate property transfers. It relates to sharing the real estate tax in an even manner between the buyer and ...

On September 29, 2017, the IRS issued a private letter ruling (PLR 201739001) providing helpful guidance on the application of normalization proration rules for the calculation of accumulated deferred ...

Some salaried employees are not covered by the overtime and minimum wage provisions of the Fair Labor Standards Act. This does not mean that these employees are not protected by the FLSA. They must be ...

On October 13, 2017, the Internal Revenue Service (IRS) issued two private letter rulings (PLR 201741004 and PLR 201741005) that provide further guidance on applying the normalization consistency ...

After successfully jumping through the hoops of a 1031 exchange, taxpayers are frequently surprised with a taxable gain on the transaction. Occasionally, the gains can be material. The culprits are ...