Taxes
New International Tax Reporting Required with Partnership and S Corporation Tax Returns
In recent years, the IRS has continued to emphasize U.S. international tax reporting as a high enforcement priority. U.S. taxpayers…
S Corporation Acquisitions with Foreign Target Corporations
There are a couple of different structuring options for the acquisition of an S corporation. A buyer that is a corporation…
Maryland’s Pass-through Entity Tax Election: Is There a Benefit for Restaurants, Hotels, Distributors and Retailers?
Recent IRS and Maryland publications have provided additional guidance and clarification on Maryland’s pass-through entity (PTE) tax election. The election…
The Individual and Business Tax Provisions in the Consolidated Appropriations Act of 2020
The Consolidated Appropriations Act of 2020 (CAA) marks the culmination of months of negotiation around bringing aid to Americans affected…
Consolidated Appropriations Act of 2020 Favorable to Real Estate Industry
In the 5,593-page Consolidated Appropriations Act of 2020 (the Act), there are several provisions which impact the real estate industry….
PPP Loan Expenses Deductible At Last
On December 20, 2020, Congress approved the Emergency COVID Relief Act of 2020 (the Act), which provides another round of…
IRS Expands Identity Protection PIN Program to All Taxpayers
Starting in Mid-January, 2021, the Internal Revenue Service will begin allowing all taxpayers to receive an Identity Protection Personal Identification…
Important Changes to 1099 Filing Process
The IRS has made changes to the annual 1099 filing process that most employers have become accustomed to. These changes…
Reevaluating your tax plans based on the presidential election outcome
Now that Joe Biden has been projected as the winner of the U.S. presidential election by major news outlets*, you…