Recently, both major-party presidential candidates have come out in favor of a “no tax on tips” proposals, though neither candidate has indicated how to implement one. There have been proposals from other legislators, though...more
10/22/2024
/ Employer Liability Issues ,
Federal Labor Laws ,
Food Service Workers ,
Gift-Tax Return ,
Labor Reform ,
Political Candidates ,
Presidential Elections ,
Proposed Legislation ,
Regulatory Agenda ,
Resorts & Restaurants ,
Restaurant Industry ,
Tax Deductions ,
Tax Liability ,
Tax Reform ,
Tipped Employees ,
Tips ,
Wage and Hour
How Tax Works, hosted by FRB Partner Matthew E. Foreman, Esq., LL.M., delves into the intricacies of taxation, breaking down complex concepts for a clearer understanding of how tax laws impact your financial decisions....more
The Drug Enforcement Administration (DEA) will call for cannabis to be rescheduled according to a report by the Associated Press. The anticipated rescheduling follows the Department of Health & Human Services’ (HHS) August...more
5/3/2024
/ Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Controlled Substances ,
Controlled Substances Act ,
Corporate Counsel ,
DEA ,
Department of Health and Human Services (HHS) ,
Food and Drug Administration (FDA) ,
Internal Revenue Code (IRC) ,
Legalization ,
Marijuana ,
Medical Devices ,
Plant Based Products ,
Popular ,
Recreational Use ,
Regulatory Reform ,
Retail Market ,
Schedule I Drugs ,
Trademark Application ,
USPTO
In Soroban Capital Partners v. Commissioner, the United States Tax Court determined that entities formed as state law limited partnerships did not necessarily mean that the limited partnerships’ limited partners were limited...more
4/17/2024
/ Business Entities ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Limited Partnerships ,
Partnerships ,
Self Employed ,
Self-Employment Tax ,
Tax Court ,
Tax Exemptions ,
Tax Planning
On February 21, 2024, the IRS announced plans to begin audits on aircraft that may be used for both business and personal purposes. This push is a part of the IRS’s broader focus on improving tax compliance in high-income...more
On January 16, 2024, the Treasury Department and Internal Revenue Service (“IRS”) announced that the agencies are postponing the implementation of increased reporting requirements for digital asset transactions under the...more
1/22/2024
/ Cryptocurrency ,
Digital Assets ,
FinCEN ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Non-Fungible Tokens (NFTs) ,
Proposed Regulation ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Tax Liability ,
Tax Planning ,
Tax Reform ,
U.S. Treasury
By: Matthew E. Foreman, Esq., LL.M. and Samuel J. Brady On December 21, 2023, the IRS announced a new Voluntary Disclosure Program (the “Program”), allowing employers (both businesses and not-for-profits) who received the...more