IRS issued proposed PFIC regulations which impact US partners with foreign assets held through US partnerships.
IRS: Website that connects lessors to lessees is a “brokerage service,” shareholder not eligible for section 1202 capital gain exclusion.
The first payment deadline for deferred payroll taxes is quickly approaching and employers should be prepared to make payments.
The IRS issued Notice 2021-63, clarifying previous guidance pertaining to the deductibility of food and beverages provided by a restaurant.
Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week.