COVID-19 Relief in 2021: What Small Businesses Need to Know
KT Sound Bytes Episode 1 | The Effects of the Supreme Court Decision in Liu v. SEC
Teleworking: Amazing or amazingly complex?
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 9, 2023 – October 13, 2023. ...more
Last Friday, December 30, 2022, during the final hours of the 117th Session of Congress, the House Ways and Means Committee – through which all tax legislation passes – released redacted versions of six years of Mr. Trump’s...more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 10, 2022 – October 14, 2022...more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 6 – 10, 2019. May 7, 2019: The IRS released Revenue Procedure 2019-22 updating Revenue...more
The Internal Revenue Service recently issued Notice 2018-99 to address changes in the Internal Revenue Code included in the Tax Cuts and Jobs Act (TCJA). ...more
As described in a blog post on March 13, 2018, Section 13306 Tax Cuts and Jobs Act, P.L. 115-97 (Dec. 22, 2017) revises the longstanding rule on the deductibility as a business expense (or lack thereof) of "any fine or...more
Resolving widespread confusion, the IRS this month issued important guidance that clarifies when a meal or drinks will be allowed as a deductible business expense following the changes made by the Tax Cuts and Jobs Act. The...more
On October 3, 2018, the IRS issued transitional guidance in Notice 2018-76 concerning the business expense deductions for meals and entertainment following the changes made by the Tax Cuts and Jobs Act (“TCJA”) — which...more
The Tax Cut and Jobs Act made several key changes to the expensing and depreciation rules, which will be a boon for Senior Living businesses that tend to be real estate heavy....more
Outside of potential minimum wage issues, there is no federal law requiring employers to reimburse employees who use their personal vehicles for business purposes....more
The newly enacted version of section 163(j) limits deductions for business interest expense. Although the prior version of section 163(j) applied almost exclusively to US corporations with non-US parents, the new version of...more
• Two recent developments have the potential to significantly impact governmental enforcement actions under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA, or Superfund), the Clean Water Act...more
The recently enacted Tax Cuts and Jobs Act (the Act) contains a largely unnoticed provision worth the attention of human resources professionals and legal counsel who draft and implement settlement agreements and releases of...more
The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more
Federal tax reform will have a significant and possibly unexpected impact on state taxes, including on individual deductions and, for corporations, reporting methods and limitations regarding net operating losses and interest...more
On December 15, 2017, the House and Senate conference committee agreed on the terms of the final tax reform bill, previously referred to as the “Tax Cuts and Jobs Act” (the “Act”), which was subsequently approved by both...more
Buried in the massive Tax Cuts and Jobs Act (H.R. 1), the tax overhaul legislation the Senate approved on December 2, 2017, is a section providing a tax credit to employers that provide their employees with paid family and...more
Having missed a historic opportunity to choose an exciting name for federal tax legislation, Texas Representative Kevin Brady and his fellow Republican tax drafters did not skimp on the substance of the Tax Cuts and Jobs Act...more
President Donald J. Trump campaigned on a platform of large tax cuts for businesses. With President Trump in the White House and Republicans controlling both the House of Representatives and Senate, does it mean businesses...more