Proposed PFIC regulations revise reporting by US partnerships
IRS issued proposed PFIC regulations which impact US partners with foreign assets held through US partnerships.
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Important upcoming deadline for deferred payroll tax
The first payment deadline for deferred payroll taxes is quickly approaching and employers should be prepared to make payments.
IRS clarifies temporary deductibility of per diem meal expenses
The IRS issued Notice 2021-63, clarifying previous guidance pertaining to the deductibility of food and beverages provided by a restaurant.
IRS releases 2022 retirement plan limitations
The IRS has released its annual cost-of-living adjustments for retirement plan limits, effective Jan. 1, 2022.