The pandemic is having a crippling effect on state budgets, some of which were still climbing out of the Great Recession. States expect to lose...Read more.
Due to the COVID-19 pandemic, U.S. taxpayers were given extra time to get their 2019 taxes completed this year. The IRS automatically extended the...Read more.
With the “People First Initiative” set to expire on July 15, 2020, the IRS is poised to resume a series of new audit initiatives aimed at high net...Read more.
Many taxpayers, both businesses and individuals, are experiencing a decrease in income from business shutdowns and the resulting economic slowdown...Read more.
The IRS has finalized guidance on a safe harbor allowing certain rental real estate interests to be considered as a trade or business for...Read more.
Due to changes brought about by the Tax Cuts and Jobs Act (TCJA), the IRS has determined that S corporations and their shareholders must closely...Read more.
The 2017 Tax Cuts and Jobs Act (TCJA) significantly changed limits on business interest deductions in the Internal Revenue Code Section 163(j)....Read more.
The question of whether a family office meets the IRS definition of a trade or business for expense deduction purposes is far from black and...Read more.
All of us have to pay our fair share of taxes, but some of us may be paying more than we need to. Not investigating ways to minimize your tax...Read more.