Tax News Highlights
Each issue features information on the latest tax developments in an easy-to-scan format to help you keep pace with valuable federal, state and local, and international tax updates.
Recent updates
Taxpayers eligible for refunds of interest and penalties paid during the COVID-19 pandemic generally have until July 10 to file a claim.
The expanded Section 45F credit under the OBBBA could benefit exempt organizations that have experienced increased tax bills from UBTI.
The Ending the Carried Interest Loophole Act, would replace the current preferential carried interest regime with an ordinary income inclusion.
The IRS issued final regulations on the qualified tips deduction under Section 224, providing much-needed clarity, though certain questions remain.
Guidance expected to clarify the tax consequences of the Section 280E deduction rules in light of rescheduling of certain medical marijuana products.
Tax teams that integrate analytics tools into their processes can improve and streamline accuracy over those relying on spreadsheets alone.
Taxpayers eligible for refunds of interest and penalties paid during the COVID-19 pandemic generally have until July 10 to file a claim.
The expanded Section 45F credit under the OBBBA could benefit exempt organizations that have experienced increased tax bills from UBTI.
The Ending the Carried Interest Loophole Act, would replace the current preferential carried interest regime with an ordinary income inclusion.
The IRS issued final regulations on the qualified tips deduction under Section 224, providing much-needed clarity, though certain questions remain.
Guidance expected to clarify the tax consequences of the Section 280E deduction rules in light of rescheduling of certain medical marijuana products.
Tax teams that integrate analytics tools into their processes can improve and streamline accuracy over those relying on spreadsheets alone.
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