Ideas & Insights

The IRS’s new Tax Pro Account platform allows individual taxpayers to digitally approve, sign and grant authorizations to representatives.

A debtor company was found liable for predecessor’s tax liability, where the debtor company carried on a very similar line of business.

Some employers can give paid leave to employees impacted by COVID in 2021 and claim a payroll tax credit per the American Rescue Plan Act.

The IRS ruled that a plan of reorganization tied a series of steps together even though they were anticipated to span over five years.

EPCRS is a summary of the rules that the IRS uses to assist employers in correcting retirement plan mistakes without disqualifying the plan.

Small Business Administration, in light of lawsuit, notifies PPP lenders that loan necessity questionnaire is withdrawn.

The IRS has recently released new draft instructions for schedules K-2 and K-3 for international tax reporting purposes.

California FTB amends remote worker nexus guidance, teleworking employees will create nexus and exceed P.L. 86-272 protections.

The changes reduce the number of brackets, provide for future rate reductions and establish a rate cap for high-earners.

Individual income tax rate reductions and bracket changes will benefit taxpayers as well as favorable withholding changes.

A roundup of considerations for companies while preparing income tax provisions for the quarter ending June 30, 2021.

The IRS examines eligibility of component parts to carbon capture equipment and when owner of partial equipment may claim sec. 45Q credit.

A summary of important updates for determining deferred tax provision under ASC 740 for the quarter ending June 30, 2021.

A new hybrid destination-based sourcing methodology impacts both in-state and remote sellers with New Mexico customers.

Seventh Circuit rules U.S. Venture’s butane gasoline blend do not qualify for the alternative fuel mixture credit.

Guidance extends continuity safe harbors for Investment Tax Credit and Production Tax Credit if construction began between 2016-2020.

Notice 2021-42 provides guidance for cash payments from foregone vacation, sick or personal leave made by employers to charities.

Missouri is the final state to adopt an economic sales tax nexus standard following the 2018 South Dakota v. Wayfair decision.

The basis reduction following a discharge of qualified real property business indebtedness (QRBPI) may take place in the year of discharge.

Provides guidance into the extended approval of exemptions for distilled spirits permittees to facilitate hand sanitizer production.