In a new ruling, the Service considered the period of historical patronage business that should be used to calculate the gain on a liquidation sale. Coop was a… Read More »New IRS Ruling: The Timing of Patronage Business for Allocations
On March 27, 2020, the President signed into law the Coronavirus, Aid, Relief, and Economic Security Act (CARES ACT). The CARES Act provided an economic… Read More »Cooperatives May Qualify for Benefits Under CARES Act
cThese proposed regulations provide guidance to cooperatives to which sections 1381 through 1388 of the Internal Revenue Code (Code) apply (Cooperatives) and their patrons regarding the deduction for qualified business income (QBI) under section 199A(a) of the Code as well as guidance to specified agricultural or horticultural cooperatives (Specified Cooperatives) and their patrons regarding the deduction for domestic production activities under section 199A(g) of the Code.
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
Notice 2018-15 provides that the IRS shall not process applications for, or issue allocations of, the remaining unused authority to issue new clean renewable energy… Read More »N-2018-15: New Clean Renewable Energy Bonds
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
The following article is reprinted with permission from CFC Solutions Newsletter (17 January 2017, Vol.19, No.2) Capital credits retired by not-for-profit electric distribution cooperatives in… Read More »Capital Credits Add Up to Big Money for Electric Co-op Consumers
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