Tax season has officially arrived, and thanks to the pandemic, this one is shaping up to be like none before it. Typically, the filing period starts in late January. This year, however, the IRS announced it was delaying the start of the 2021 tax filing season to Feb....
With the new year under way, tax season is fast approaching. And with that comes more opportunity for scammers and cyber criminals looking to con businesses and individuals. These unscrupulous actors are looking for sensitive information that can be used to steal your...
In the age of coronavirus, responding to notices from governmental agencies, especially the Internal Revenue Service, couldn’t be more important. Recently, the U.S. Tax Court sustained an appeal from a taxpayer who received a statutory notice just four days before the...
The eyes of the political world were squarely on Georgia on Tuesday, January 5th for the runoff elections for both of Georgia’s U.S. Senate seats. At stake was control of the Senate and, consequently, President-elect Joe Biden's ability to move his policy agenda...
For many of us, 2020 has felt simultaneously like the quickest and yet longest year in recent history. At times, I felt like it was still Q1 and I was trying to figure out what I wanted to accomplish this year only to realize moments later that we were just weeks away...
Tax policies are always a hot topic in presidential elections. Below, we provide side-by-side comparisons of where the presidential candidates stand on income (corporate and individual) and estate taxes. In short, President Trump’s plan seems to be to extend the 2017...
The Chairman and Ranking Member of the House Ways and Means Committee introduced this week the “Securing a Strong Retirement Act of 2020.” The bi-partisan bill provides a number of changes to the country’s current retirement system. These include: Raising the age at...
Depending on the outcome of the upcoming presidential election, real property investors may lose the valuable benefit of capital gains deferral permitted under IRS Code Section 1031. This article explores how Section 1031 is utilized today, and what may happen to...
Election day 2020 is just around the corner. As we know all too well, trying to predict election results can be an exercise in futility. Estate planning clients need their trusted advisors to timely counsel them on how the election may impact their legacy planning....
On February 26, 2020, the IRS issued proposed regulations relating to meals and entertainment expenses. On December 22, 2017, the President signed the Tax Cuts and Jobs Act (“TCJA”), which eliminated the deductibility of entertainment expenses and made adjustments to...