The IRS has issued Rev Rul 2019-13 that provides guidance on the reduction of AAA when a former S corporation distributes cash in redemption of a shareholder’s stock during the corporation’s post-termination transition period (PTTP).
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The IRS has issued Rev Rul 2019-11 to explain how tax benefits from the recovery of a state tax itemized deduction in a prior year is treated in a current tax year after the enactment of the “Tax Cuts and Jobs Act” (TCJA).
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