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Patterson Belknap Webb & Tyler LLP

Section 83(b) Elections — Should You Pay Taxes Now?

In startups and early-stage companies, founders often receive restricted equity grants as compensation for their services. With some planning, founders can potentially lower the taxes they pay on the appreciation of the...more

Bergeson & Campbell, P.C.

Petitions Filed to Add Chemicals to List of Chemical Substances Subject to Superfund Excise Tax

On April 2 and April 3, 2025, the Internal Revenue Service (IRS) announced that petitions have been filed to add the following chemicals to the list of taxable substances...more

Womble Bond Dickinson

Micro-Captive Reportable Transaction Deadline Effectively Extended

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On Friday, April 11, 2025, the Internal Revenue Service issued Notice 2025-24 (the “Notice”), which waives applicable penalties under the Internal Revenue Code to participants in, and material advisors to, reportable...more

Paul Hastings LLP

Crypto Tax Update – April 2025

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In light of the approaching April 15 tax filing deadline, this week’s update highlights recent developments in U.S. federal tax policy that may impact crypto firms and crypto holders....more

Jaburg Wilk

Extensions, Amendments and Scams – Three Things to Keep Your Eye on During Tax Season

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As the April 15, 2025 deadline approaches, it’s essential to be prepared for filing your federal tax return. Whether you’re ready to submit your return or need more time, understanding the available options will help ensure a...more

Lippes Mathias LLP

Taxpayer Beware: The Pitfalls of Section 965 Installment Payments

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For the taxable years ending on December 31, 2017, and 2018, Section 965[1] of the Internal Revenue Code required U.S. shareholders (as defined in Section 951(b)) to pay a transition tax on the untaxed foreign earnings of...more

Jackson Lewis P.C.

The Guidance Has Arrived! More Information from the IRS on ACA Forms 1095-B and 1095-C

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Takeaways- Employers may post a notice on their website instead of automatically furnishing Forms 1095-B and 1095-C to all full-time employees. The first due date for such a notice is March 3 for 2024 forms, and the notice...more

Haynsworth Sinkler Boyd, P.A.

New Deadlines for FINCEN Compliance Issued

The Corporate Transparency Act (CTA) introduced substantial new reporting obligations for a wide array of corporate entities. Generally, any domestic entity formed by filing documents with a secretary of state or similar...more

Allen Barron, Inc.

Important IRS and California Tax-Related Deadlines

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Don't stick your head in the sand and miss important business or personal tax deadlines...more

Venable LLP

Fast-Approaching Deadlines for ACA Reporting and Similar State Reporting - January 2025

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This alert describes upcoming reporting deadlines under the Affordable Care Act (ACA) and under state laws that require similar reporting. Generally, reporting that relates to health coverage in one calendar year is due early...more

Pillsbury Winthrop Shaw Pittman LLP

Federal and State Tax Relief Resulting from California Fire

The Internal Revenue Service (IRS) has provided broad tax relief to taxpayers in Los Angeles County impacted by the recent winds and wildfires. Other counties may be added later....more

Holland & Knight LLP

IRS, State of California Offer Tax Relief for Wildfire-Impacted Taxpayers in Los Angeles County

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In response to a Federal Emergency Management Agency (FEMA) declaration on the Los Angeles wildfires, the IRS on Jan. 10, 2025, issued a news release, IR-2025-10, which postpones certain tax-filing and tax-payment deadlines...more

Greenberg Glusker LLP

California and Federal Tax Deadlines Postponed for Los Angeles County Residents

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As a result of the wildfires in Los Angeles County, California, on January 10, 2025, the IRS extended substantially all tax filing and payment dates until October 15, 2025, for residents of Los Angeles County. On January 11,...more

Buchalter

Tax Relief and Recovery: Key Considerations for Los Angeles Residents Affected by Recent Wildfires

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We at the Buchalter law firm understand that many have suffered greatly as a result of the recent wildfires. The loss of life, and the loss of homes with memories is, of course irreplaceable....more

Nossaman LLP

IRS and California Provide Tax Relief for LA County Residents and Businesses

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The IRS on Friday, January 10, 2025 extended tax payment and filing deadlines to October 15, 2025 for Los Angeles County individuals and businesses because of the recent fires. The California Governor’s office followed suit...more

Coblentz Patch Duffy & Bass

IRS Tax Relief for Southern California Wildfire Victims

In light of the ongoing wildfires in Los Angeles, we want to take a moment to express our deep concern for all those affected by this devastating disaster. Our thoughts are with everyone impacted by the fires....more

McDermott Will & Emery

Weekly IRS Roundup December 30, 2024 – January 3, 2025

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Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 30, 2024 – January 3, 2025. December 30, 2024: The IRS released Internal Revenue Bulletin 2025-1,...more

Morgan Lewis - ML Benefits

Welcome Healthcare Reporting Simplification Enacted

On December 23, 2024, President Biden signed into law two bills that will simplify employer reporting compliance under the Affordable Care Act (ACA). The new laws streamline the rules for employers furnishing ACA reporting...more

DLA Piper

Employers: 2025 Deadlines Approach to Furnish Incentive Stock Option and Employee Stock Purchase Plan Information Statements and...

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Section 6039 of the Internal Revenue Code (Code) requires a corporation to furnish a written statement to any employee or former employee who either (i) exercised an incentive stock option within the meaning of Section 422 of...more

Sheppard Mullin Richter & Hampton LLP

Reminder about Annual ISO/ESPP Reporting in January 2025 and New Section 83(b) Election Form

Annual Reporting on ISO/ESPP Transactions - As originally discussed in our December 16, 2010 blog article, the IRS issued final regulations in 2009 under Section 6039 of the Internal Revenue Code (the “Code”) that require...more

Latham & Watkins LLP

Reminder: Employers Must Report 2024 ISO and ESPP Transactions

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Deadlines are approaching for employers to report employee exercises of incentive stock options and employee stock purchase plan purchases during 2024. Corporations that offer incentive stock options (ISOs) or maintain a...more

Foodman CPAs & Advisors

Forms 3520 and 3520-A Late Filing get IRS Relief

On 10/24/24, the National Taxpayer Advocate shared on its NTA Blog that the IRS has discontinued its policy of automatically imposing penalties for late submissions of Form 3520, which pertains to foreign gifts and...more

Eversheds Sutherland (US) LLP

IRS provides additional transition relief for third party settlement organizations reporting on Form 1099-K

On November 26, 2024, the IRS issued Notice 2024-85, providing a revised timeline for the transition to the $600 threshold in section 6050W(e), as amended by the American Rescue Plan Act of 2021, for third-party settlement...more

Foodman CPAs & Advisors

BOI Reporting Relief for Hurricane Victims

On 10/29/24, FinCEN announced Beneficial Ownership Information (BOI) Reporting Relief to specific victims of Hurricane Milton, Hurricane Helene, Hurricane Debby, Hurricane Beryl, and Hurricane Francine. BOI Reporting Relief...more

Wiley Rein LLP

FinCEN Extends Corporate Transparency Act Filing Deadline for Certain Companies Impacted by Recent Hurricanes

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The Financial Crimes Enforcement Network (FinCEN) recently announced that it will provide a six-month Corporate Transparency Act (CTA) filing extension to certain reporting companies affected by one of the five hurricanes in...more

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