On March 11, 2024, the U.S. Department of Justice filed a notice of appeal with the Eleventh Circuit to appeal the decision by the U.S. District Court for the Northern District of Alabama (Northeastern Division) that held...more
On March 1, 2024, the U.S. District Court for the Northern District of Alabama (Northeastern Division) held that the Corporate Transparency Act (the “CTA”) is unconstitutional. See National Small Business United v. Yellen,...more
The IRS has issued Notice 2020-22 (see https://www.irs.gov/pub/irs-drop/n-20-22.pdf) to provide further guidance to employers seeking to obtain the relief of the refundable tax credits provided in both (i) the Families First...more
On April 9, 2020, the IRS issued Notice 2020-23 (the “Notice”) to provide additional extensions of certain tax filing deadlines, which Notice supplements Notice 2020-18 and Notice 2020-20. The IRS previously issued Notice...more
The Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) includes several tax provisions in addition to the other voluminous economic stimulus provisions. A summary of key tax provisions in the CARES Act is as...more
The Families First Coronavirus Response Act (the “Act”) provides for paid sick leave and expands certain provisions of the family and medical leave act (“FMLA”) to provide support for employees that are absent from work due...more
On Friday, September 21, 2018, the Treasury Department issued proposed regulations removing the portion of the final Section 385 regulations dealing with the documentation requirements that must be satisfied for related-party...more
On March 23, the Consolidated Appropriations Act (the “Appropriations Act”) was signed into law by President Trump. Included in the Appropriations Act were certain tax law provisions, including technical corrections to the...more
4/3/2018
/ Agricultural Sector ,
Business Taxes ,
Consolidated Appropriations Act (CAA) ,
Farms ,
IRS ,
New Legislation ,
Partnerships ,
Pass-Through Entities ,
Tax Deductions ,
Tax Liability ,
Tax Planning ,
Tax Returns ,
Trump Administration
Technical corrections to the partnership audit rules were included in the 2018 Consolidated Appropriations Act signed by President Trump on March 23rd (the “Appropriations Act”). ...more
The U.S. Internal Revenue Service has just announced that it will end the Offshore Voluntary Disclosure Program (“OVDP”) on 28 September 2018. ...more
The IRS recently issued Notice 2018-32, which advises taxpayers on the ability to deduct interest on home equity loans (collectively, a “HELOC”) following the 2017 Tax Act. This is a timely response to the questions that...more
The taxability of a “carried interest” has been subject to much debate. A “carried interest” is a term of art used to refer to the receipt of a profits interest, a popular structure in entities taxed as partnerships with...more
In March, 2016, the FASB issued Accounting Standards Update No. 2016-09, Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Account. This update simplifies accounting for share-based...more