Over the past year, we have been posting on the tax bill passed on December 22, 2017, as Public Law 115-97 (the “Original Act”). The… Read More »Tax Reform Act Impacts Cooperatives, Part V: New Developments for Cooperatives Under Section 199A
On December 22, 2017, Congress’ new tax reform bill became law as Public Law 115-97 (the “Act”). The Act substantially amends the Internal Revenue Code… Read More »Tax Reform Act Impacts Cooperatives: New Section 199A
Cooperative tax professionals occasionally consider whether patronage dividends, such as QWNAs, are considered equity or debt. The issue was central to a recent decision by… Read More »Patronage QWNAs as Debt or Equity?
The IRS is seeking comments on Form 1120-C, which is the tax return required for most Subchapter T cooperatives other than Section 521 agricultural cooperatives.… Read More »IRS Seeks Comments on Subchapter T Cooperatives’ Tax Return
Attorney David Cook will be presenting a “Tax Update for Cooperatives” at the NTCA 2015 Finance & Accounting Conference. Click here for more details. NTCA… Read More »Telephone Cooperative Tax Update Presented by David Cook
Real Estate Investment Trusts and Cooperatives’ Patronage Dividends Some of the more interesting cooperative tax cases involve the interplay of cooperative tax law, such as… Read More »Real Estate Investment Trusts and Cooperatives’ Patronage Dividends
To view this Cooperative Tax Brief in the traditional PDF format, click here. Introduction What counts as notice of patronage under Subchapter T? Traditionally, notices… Read More »Cooperative Tax Brief: Alternative Methods of Patronage Notification
This post comes from CFC Solutions Newsletter, Vol. 15, No. 25, July 1, 2013.
CFC recently filed comments with the Financial Accounting Standards Board (FASB) and Private Company Council (PCC) in response to an invitation to comment on private company financial accounting and reporting standards. CFC’s comments support the continued use of ASC 980 Regulated Operations—formerly Statement of Financial Accounting Standards No. 71.Read More »Guest Post: CFC Comments on Accounting Standards
In the latest cooperative tax ruling, the Service ruled that a cooperative’s (“Cooperative”) gain on sale of stock in corporations that offered services to Cooperative’s members was patronage-sourced. The ruling was important to Cooperative because it expected to fail the Member Income Test of Section 501(c)(12), subjecting Cooperative to regular corporate income tax. The favorable ruling allowed Cooperative to avoid substantial taxes in the gain.
Read More »AHC Cooperative Tax Brief: Telephone Cooperative’s Sale of Subsidiary
AHC attorney David R. Cook recently spoke to a group of cooperative accountants about the role of accountants in cooperatives’ board meetings. The presentation focused on the duties of directors, officers, and in-house accountants to the cooperative and to each other.Read More »The Role of the Cooperative Accountant
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