President Biden’s Proposed Budget Highlights His Tax Agenda President Biden has released his proposed budget for the 2025 fiscal year, including numerous tax provisions affecting both businesses and...
Transferable Energy Tax Credits Would Require Registration, Valid Election Under IRS Proposed Rules The IRS on June 14 issued proposed regulations that would set out procedures and rules for...
Asset Managers Face New Potential Withholding Obligation on Sales of Interest in Their Funds There is a new “secondary withholding obligation,” effective January 1, 2023, that may apply to a...
Trends Driving Tax-Related Financial Restatements Financial restatements are on the rise, and many involve tax. Material weaknesses or inaccuracies related to income tax accounting and the...
Potential U.S. Central Bank Digital Currency System - What Plan Sponsors Should Know The United States is exploring the idea of a digital dollar, which is a digital asset backed by a country’s...
Treasury Issues Proposed Regulations Under Section 367(b) The Treasury Department and the IRS on October 5 issued proposed regulations providing guidance under Internal Revenue Code Section 367(b)...
Proposed Legislation on Digital Asset Regulation Has Several Tax Provisions, Including a Wash Sale Proposal Senators Gillibrand (D-NY) and Lummis (R-WY) reintroduced a bill on July 12 that would, if...
Independent Contractor vs. Employee Status: The DOL Issues New Final Rule The U.S. Department of Labor’s (DOL’s) test for determining whether a worker should be classified as an independent...
Employer-Provided Childcare Tax Credit The IRS announced the launch of a new page on IRS.gov explaining the employer-provided childcare tax credit, an incentive for businesses to provide childcare...
Thinking of Buying a Private Aircraft? Explore These Six Tax Implications Before Making a Decision Owning a private aircraft can provide many advantages for high-net-worth individuals, business...