Navigating the Minefield of Legal Challenges as Employees Return to Work -
Employers face a host of potential legal pitfalls as businesses that were closed in response to the COVID-19 pandemic reopen and new virus hotspots...more
In March, Congress passed the Coronavirus, Aid, Relief and Economic Security Act (“CARES Act”) to aid businesses and individuals. One CARES Act relief provision offered the deferral of certain payroll taxes. In particular,...more
8/17/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Internal Revenue Code (IRC) ,
IRS ,
Payroll Taxes ,
Presidential Memorandum ,
Relief Measures ,
Social Security Taxes ,
Tax Deferral ,
Tax Relief ,
Trump Administration ,
U.S. Treasury
While the Coronavirus has delayed tax season by a few months, Congress’s response may have created the first ever refund season in the recently passed and much discussed relief package known as the Coronavirus Aid, Relief,...more
4/3/2020
/ Business Losses ,
CARES Act ,
Coronavirus/COVID-19 ,
Financial Stimulus ,
Income Taxes ,
Net Operating Losses ,
Small Business ,
Tax Deductions ,
Tax Planning ,
Tax Refunds ,
Tax Relief
In the late hours of March 25, 2020, the United States Senate met to vote on a third “Coronavirus” bill to provide relief to the American people. The Senate ultimately passed H.R. 748—the Coronavirus Aid, Relief, and...more
While the coronavirus has delayed tax season by a few months, Congress’s response may have created the first ever refund season in the recently passed and much discussed relief package known as the Coronavirus Aid, Relief,...more
New Tariffs on Imported Steel and Aluminum Derivative Products -
On February 8, 2020, the United States expanded tariffs on steel and aluminum raw material imports to include finished product imports from all but a select...more
2/13/2020
/ Aluminum Sales ,
Automotive Industry ,
Construction Project ,
Critical Infrastructure Sectors ,
Energy Projects ,
Exemptions ,
Imports ,
Real Estate Development ,
Steel Industry ,
Supply Chain ,
Tariffs ,
Trade Relations ,
Trump Administration ,
Urban Planning & Development ,
US Trade Policies
U.S. importers must act soon to seek relief from 25% tariffs on Chinese imports. U.S. businesses that cannot pass through the increased tariffs in a price competitive manner can still seek an exclusion or implement another...more
8/12/2019
/ China ,
Exclusions ,
Imports ,
International Harmonization ,
Risk Mitigation ,
Section 301 ,
Supply Chain ,
Tariffs ,
Trade Relations ,
Trump Administration ,
US Trade Policies ,
USTR
The IRS issued guidance in 2014, through Notice 2014-21, on how to report income from virtual or “crypto” currency transactions. The IRS has since developed a “Virtual Currency Compliance” program focusing on U.S. taxpayers...more
Congress enacted the Opportunity Zone (“OZ”) investment incentives in late 2017 as part of the Tax Cuts and Jobs Act. Since then many investors, fund managers, and community development professionals have devoted significant...more
5/31/2019
/ Business Income ,
Business Taxes ,
Compensation ,
Entrepreneurs ,
Income Taxes ,
Opportunity Zones ,
Proposed Regulation ,
Safe Harbors ,
Tangible Property ,
Tax Cuts and Jobs Act ,
Wage and Hour
What Businesses Need to Know About the Current and Proposed Increases and How Burr Can Assist With Mitigation of Tariff Risk -
On Friday, May 10, 2019, the United States government through the United States Trade...more
For the last 26 years, Quill v. North Dakota acted as a default tax protector for out-of-state sellers and web-based businesses that had no physical presence in the jurisdictions where they sold and shipped products. As such,...more
6/22/2018
/ Appeals ,
Commerce Clause ,
Constitutional Challenges ,
Internet Retailers ,
Interstate Commerce ,
Out-of-State Companies ,
Physical Presence Test ,
Quill ,
Reversal ,
Sales & Use Tax ,
SCOTUS ,
South Dakota v. Wayfair ,
Substantial Nexus
Last month, the IRS issued final regulations repealing its rule requiring that a Form 1099-C be filed whenever a financial institution (or certain other limited taxpayers) fails to receive payment on a debt for 36 consecutive...more
You just formed your medical practice in Alabama, and you either chose a professional corporation (a "PC") or an LLC. If you went with a PC, you get to choose between an "S" corporation ("S corp") or a "C" corporation ("C...more
Since the enactment of the net investment income tax ("NIIT") in 2012, physicians and other taxpayers owning multiple business interests have had to make educated choices based upon accounting projections and SWAGS when...more
It's August of an election---year, and not just any election---year, a presidential election year. So, in less than 80 days, we'll all go to the polls and elect a new president. While Benjamin Franklin might have been right...more
8/31/2016
/ Business Succession ,
Business Valuations ,
Closely Held Businesses ,
Estate Planning ,
Estate Tax ,
Family Businesses ,
Family Limited Partnerships ,
Gift Tax ,
IRC Section 2704 ,
IRS ,
Limited Liability Company (LLC) ,
Partnerships ,
Proposed Regulation ,
Succession Planning ,
Transfer of Assets ,
Transfer Taxes ,
U.S. Treasury
Tennessee has long been known as a retirement friendly state and usually ranks in the Top 10 of any list identifying the best places in the U.S. for retirement. That reputation is about to be enhanced as Tennessee's...more
On October 6, 2015, the European Court of Justice (the European Union's highest court), struck down the US-EU Safe Harbor Agreement that previously provided companies to store personal data about Europeans on U.S. servers,...more
10/9/2015
/ Cybersecurity ,
Data Protection Authority ,
EU Data Protection Laws ,
European Commission ,
European Court of Justice (ECJ) ,
Facebook ,
Federal Trade Commission (FTC) ,
International Data Transfers ,
Ireland ,
National Security ,
National Security Agency (NSA) ,
Personal Data ,
Privacy Laws ,
Right to Privacy ,
Safe Harbors ,
Schrems I & Schrems II ,
US-EU Safe Harbor Framework
The recently enacted Trade Preferences Extension Act of 2015 (the "Act") contains a number of tax provisions affecting businesses and individuals which have not been widely reported. The Act adds a requirement for claiming...more
If you're reading this article, then you likely own or administer a medical practice of some sort. That practice may have workers of many stripes. Some of those workers may be treated as employees and some may be independent...more
6/11/2015
/ Audits ,
Department of Revenue ,
Employee Definition ,
Employer Liability Issues ,
Healthcare Facilities ,
Healthcare Workers ,
Home Health Agencies ,
Home Health Care ,
Home Healthcare Workers ,
Hospitals ,
Independent Contractors ,
IRS