Ideas & Insights

The IRS updated taxpayers on its operations status and recognized the delays in processing check payments due on July 15, 2020.

California Office of Tax Appeals determined that a construction company could not use a resale certificate for material purchases.

The recent IRS Notice provides relief in the form of flexibility for investment timing and testing periods for QOFs and their investors.

Corporate taxpayers filing a consolidated return have an added layer of rules to navigate when carrying back a net operating loss.

Recent guidance extends certain deadlines for LIHTC, WOTC, and Historic Rehabilitation tax credits because of COVID-19.

Recent guidance provides that certain deadlines, including the allowable time to invest in a QOF, are now extended because of COVID-19.

The IRS issued guidance extending the time for taxpayers to file certain Form 3115s and Form 1128s to July 15, 2020.

As businesses renegotiate debts in the aftermath of COVID-19, it is critical to understand whether the debt is considered publicly traded.

Immediate and retroactive expensing of qualified improvement property creates tax saving opportunities for taxpayers.

Law firms and professional services businesses are experiencing challenges with the COVID-19 pandemic, creating state and local tax issues.

Beginning in 2020, some individual taxpayers working remotely in Illinois will have a 30-day safe harbor from the state income tax.

Professional services firms could be overlooking financial reporting standards that affect software and cloud-based platforms costs.

Small business owners may be able to increase tax-beneficial retirement contributions with the use of a cash balance plan.

Listen to business and professional services tax professionals provide analysis of tax issues affecting the industry.

Insurance companies seeking to make a change to the basis of computing certain reserves receive new automatic accounting method change.

From meals and entertainment to new business income deductions, law firms have much to ponder related to tax reform.

Business and professional services firms face challenges due to tax reform, but there are opportunities to maximize the benefits, too.

What state and local tax considerations can greatly affect business and professional services providers? Learn more.

Business and professional services providers should consider whether sales tax collection is necessary in the wake of the Wayfair decision.

Learn the valuation impacts resulting from the TCJA and its effect on business owners and investors assessment of ownership interests.