The Tax Cuts and Jobs Act of 2017 (The “TCJA”) imposes a $10,000 cap on the amount an individual may deduct for federal tax purposes for the payment of state and local income, property and sales taxes (referred to as “SALT”)....more
3/3/2022
/ Arkansas ,
C-Corporation ,
Federal Taxes ,
Income Taxes ,
IRS ,
Limited Liability Company (LLC) ,
Pass-Through Entities ,
S-Corporation ,
SALT ,
Tax Cuts and Jobs Act ,
Tax Deductions
As you’ve surely heard by now, the Bipartisan Budget Agreement of 2015 (“BBA”) enacted new IRS procedures for partnership audits for tax years beginning on or after January 1, 2018. The new audit rules allow the IRS to...more
11/7/2017
/ Bi-Partison Balanced Budget Act (BBA) ,
C-Corporation ,
Corporate Taxes ,
IRS ,
K-1 ,
Partnership Agreements ,
Partnerships ,
Proposed Regulation ,
Public Comment ,
Push-Out Requirements ,
S-Corporation ,
Tax Audits ,
Tax Returns ,
TEFRA ,
Underpayment