IRS Clarifies Theft and Fraud Loss Deductions

The Tax Cuts and Jobs Act (TCJA) significantly limited the types of theft losses that are...

Mitigate the risks: Tips for dealing with tariff-driven turbulence

President Trump’s “Liberation Day” announcement of global tariffs caught businesses, as well as...

House Republicans Float Long List of Potential Tax Measures

Republicans in the U.S. House of Representatives Budget Committee recently circulated a draft list...

Proposed Regulations Address Corporate Separations, Incorporations, and Reorganizations and Update Section 355 Reporting Requirements

On May 2, 2024, Treasury and the IRS released Rev. Proc. 2024-24, which updates the procedure for...

Trump’s New Reciprocal Tariffs Further Upend Global Trade

On February 13, 2025, the White House issued a memorandum introducing a “Fair and Reciprocal Plan”...

Top Tax Issues Pass-Through Entities Should Consider in 2025

Pass-through entities, including partnerships, S corporations, and LLCs, can benefit from many tax...

Current State of R&D Tax Policy: Proactively Preparing for Pending and Future Changes

As companies continue to invest in innovation, tax leaders should be aware of recent and potential...

IRS Updates Procedural Guidance on Section 174 Accounting Method Changes for Taxable Years Beginning in 2024

Rev. Proc. 2025-8, issued on December 17, 2024, provides modified procedural guidance that expands...

President Trump’s tax plan: What proposals are being discussed in Washington?

President Trump and the Republican Congress plan to act swiftly to make broad changes to the United...

Sales of IRA Tax Credits Entail Special Tax Accounting Considerations

Taxpayers either purchasing or selling certain federal income tax credits under the Inflation...