IRS Form W-9 Revision Adds New Reporting Line on Foreign Partners and Beneficiaries

The IRS in March released a final 2024 revision of Form W-9, “Request for Taxpayer Identification...

Revisiting Eligibility for Small Business Taxpayer Exemptions

“An exemption from UNICAP? And no limitation on the amount of business interest expense I can...

Treasury, White House Release FY 2025 Budget and Green Book Detailing Administration’s Tax Proposals

The White House on March 11 released President Biden’s fiscal year 2025 budget proposal, followed...

IRS Releases Revised Procedural Guidance for Section 174 R&E Costs

On December 22, 2023, the IRS released Rev. Proc. 2024-09 containing new and revised procedural...

Notice 2024-10 Provides Corporate AMT Guidance on CFC Dividends and Applicable Financial Statements

The Inflation Reduction Act (IRA) enacted on August 16, 2022, created a new corporate alternative...

Tennessee Legislature Passes Franchise Tax Reform

On April 25, the Tennessee General Assembly passed a landmark reform (S.B. 2103) of the state's...

ESOP FAQs: Frequently Asked Questions Related to Employee Stock Ownership Plans

Employee ownership can be an attractive option for owners looking to sell their business while...

IRS Updates 2023 Withholding Tax Forms 1042 and 1042-S for Foreign Persons’ U.S. Income

The IRS in December 2023 released updated 2023 withholding tax forms for foreign persons’ U.S....

Senate, House Tax Chairs Announce Bipartisan Tax Deal Framework

Senate Finance Committee Chair Ron Wyden, D-Ore., and House Ways and Means Committee Chair Jason...

Federal regulators expand overtime pay requirements, ban most noncompete agreements

Federal regulators expand overtime pay requirements, ban most noncompete agreements The U.S....