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.
The IRS has released its annual cost-of-living adjustments for retirement plan limits, effective Jan. 1, 2022.
After intense negotiations, some provisions were eliminated while others were rewritten in an effort to appease all Democratic members.
States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.
What are the proposed tax changes affecting individual taxpayers and what should you consider today to limit your exposure to these changes?