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The IRS issued a slight increase in the standard mileage rates for business travel, effective January 1, 2024. While the IRS states that standard mileage

In January 2021, Congress passed the Corporate Transparency Act designed to prevent the use of U.S. shell companies for money laundering, shadow investments, tax fraud,

Form BE-12 is a benchmark survey required by the Department of Treasury’s Bureau of Economic Analysis. The BE-12 must be filed every 5 years and

One of the ways the IRS is going to put its $80 billion to use is increasing the number of transfer pricing audits it conducts.

The IRS has released the Section 280F depreciation deduction limits for passenger automobiles – including trucks and vans – first placed into service in 2023.

The IRS issued a slight increase in the standard mileage rates for business travel, effective January 1, 2023. While the IRS states that standard mileage

The landscape of the 2022 tax season has changed with respect to the Schedule K-2 and K-3 filing reporting. Penalties apply if the forms are

At the end of December 2021, the IRS began sending out Letter 6419 to provide information on the total amounts of the 2021 advance Child

Yesterday’s proposed tax package by the Democrats in the U.S. House of Representatives was applauded by the agriculture industry as it eliminated the possibility of

On August 10, 2021, the Senate passed its infrastructure package detailing the federal government’s investments in America’s roads, rails, waterways, and communications systems. Among the

An internal memo outlining the Senate’s $3.5 trillion budget framework plan was released by Senate Democrats today. The “fully-paid-for” plan includes specific spending targets as

Released late last night, the full legislative text – all 2,700 pages – of the proposed infrastructure bill has come to light. From a first

With so many changes under the CARES Act, and with new administration policies yet to be determined, it’s important to note that while tax planning

The Internal Revenue Service (IRS) has posted clarification on a simplified method to claim the Employee Retention Tax Credit for PPP borrowers. According to the

Good news for businesses as guidance from the U.S. Small Business Administration (SBA) and Treasury has been issued regarding the second round of Paycheck Protection

The Internal Revenue Code provides guidelines for what activities constitute income or deductions for individual residences. Below is a high-level overview for consideration. Residence rentals:

You may remember that earlier this month, the President signed an executive order directing the Department of Treasury to defer withholding, deposit, and payment of

As fires rage and rampage through large areas of California, the destruction of residences, outbuildings, and commercial buildings has been widespread. K·Coe Isom has been

The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) includes increased tax credits for qualified costs incurred in the setup and

View the update from August 31, 2020 here. On August 8, the President signed an executive order directing the Department of Treasury to defer withholding,

In response to the need to provide relief to victims of the COVID-19 pandemic, many employers are considering Employer Leave Donation programs. Under these programs,

The latest Interim Final Rule (IFR) on Paycheck Protection Program (PPP) Loan Forgiveness issued by the Small Business Administration (SBA) was released just before the

On April 8, 2020, the IRS issued welcomed guidance regarding the CARES Act Update in Revenue Procedure 2020-23, allowing “eligible partnerships” to file amended returns

In an effort to further help individuals and employers, the CARES Act has enacted provisions that create temporary relief through employer benefit plans changes for

Tax experts are dusting off a little-used tax opportunity (enacted in 2002 following September 11th attacks) that is coming in handy for businesses dealing with

The Stimulus package, released early today, will inject approximately $2 trillion into the economy, providing tax rebates, four months of expanded unemployment benefits, and business

As we continue to monitor the financial and tax updates and implications stemming from the impact of COVID-19, it’s important to sort through the proposals

New Year’s resolutions typically focus on healthier lifestyles, kicking bad habits, and ways to increase happiness. Unfortunately, there’s a tendency to drop resolutions as quickly

The IRS issued a slight decrease in the standard mileage rates for business travel, effective January 1, 2020. While the IRS states that standard mileage

Schedule K-1, the Internal Revenue Service (IRS) tax form issued annually for investment in partnership interests, is awaiting finalization of changes that could impact 2019