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On February 18, 2025, there was a decision by the U.S. District Court in Texas in Smith et al. v. U.S.…

Bill McDevittFebruary 19, 2025

U.S. citizens are taxed on worldwide income, meaning they must report and pay taxes on all income earned, regardless of…

Deepika IyerFebruary 13, 2025

On Monday, February 10, 2025, the House approved legislation by a unanimous 408-0 vote that would grant small businesses formed before…

Bill McDevittFebruary 12, 2025

The IRS has recently released a new draft of Form 6765, "Credit for Increasing Research Activities," aimed at expanding the…

Tim TorresFebruary 10, 2025

Federal funding for not-for-profit organizations remains a big question mark as the Trump administration has introduced plans to freeze federally…

Maria MauricioJanuary 31, 2025

On January 14, 2025, the Department of Treasury and the IRS issued final regulations that clarify how cloud transactions are…

As a reminder, for applicable transfers, copies of Form 8308, “Report of a Sale or Exchange of Certain Partnership Interests,”…

Jenna McDonoughJanuary 16, 2025

Starting in 2024, third-party settlement organizations (TPSOs) such as Venmo, Etsy, and CashApp were required to issue 1099-K forms to…

Linda FernandezJanuary 15, 2025

Long awaited relief from the Proposed Regulations issued in 2016 finally arrived in September 2024 via the Final Regulations for…

IRC § 1031 Like-Kind Exchanges (1031 Exchange) allows real estate investors to defer capital gains taxes by exchanging investment properties…

Osbert TokuJanuary 8, 2025

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