Executive Order provides path to regulation of digital assets
Executive Order provides an outline for next steps related to guidance and regulation in the digital asset space.
IRS releases new guidance on R&D credit refund claim procedure
The IRS released a memorandum and FAQs to provide procedural guidance regarding R&D credit refund claims on amended tax returns.
Smile! New IRS identity verification process requires a selfie
The IRS is tackling identity theft by using ID.me verification technology to guard access to online services.
Private equity fund 2021 year-end global updates
This alert covers certain key 2021 global developments that may impact tax planning with respect to private equity funds in 2022.
Congress open to considering a pause on automated tax notices
National Taxpayer Advocate, Erin Collins, recommends the IRS pause automated collection notices. Congress may consider the recommendation.
National Taxpayer Advocate provides 2021 annual report to Congress
The Taxpayer Advocate Service highlighted 10 major IRS problems affecting taxpayers and made several recommendations to mitigate the issues.
New Lease Accounting Standard (ASC 842) Explained
The new Lease Accounting Standard is complex and requires organizations that have U.S. GAAP reporting requirements to analyze all their leases.
Senate Finance releases Build Back Better text
Senate Finance Committee Build Back Better language largely leaves House Bill unchanged. SALT language omitted as well as billionaires’ tax.
Proposed amendments to section 1202: Effect on federal tax liability
Under the BBB Act, only the 50% gain exclusion would be available to taxpayers that sell QSBS. How would this affect their tax liability?
How to Take Advantage of the SALT Deduction Workaround
In response to the allowance of the SALT deduction at the entity level, most states including Idaho, Oregon, and California passed legislation to allow elective PTE tax.