On January 14, 2025, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) published final regulations (the ...

Generally speaking, the participating taxpayer must attach a Form 8886 disclosure statement to each tax return reflecting participation in the reportable transaction and send a copy to the Office ...

and impose an unreasonably short 180-day deadline for taxpayers to file Form 8886, Reportable Transaction Disclosure Statement, for transactions related to previously filed tax returns due to the ...

The regulations mandate that taxpayers file Form 8886, Reportable Transaction Disclosure Statement, within a 180-day window for transactions tied to previously filed tax returns, considering a six ...

On January 10, 2025, the United States Internal Revenue Service (the "IRS") released final ... to the IRS all the information required by IRS Form 8886 along with the following information ...

Under the new rules, the IRS requires anyone using a micro-captive in which claims amount to less than 60% of premiums to disclose their entity when they file their taxes by using a Form 8886.