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Action May Be Required: IRS Announces Penalty Relief

In an unexpected announcement on August 24, 2022 (Notice 2022-36), the Internal Revenue Service (IRS) issued broad penalty relief as…

WilkinGuttenplanAugust 25, 2022

Articles PILOT Real Estate Tax Services

Financial Reporting for Payment in Lieu of Taxes Program

Real estate developers typically utilize the federal income tax basis of accounting to prepare their internally generated financial statements. Developers…

WilkinGuttenplanJuly 7, 2022

In The News Individual Tax Tax Services

Vinay Navani Quoted in Merrill: How to be a Tax-Aware Investor

Taxes aren't just a once-and-done thing. There are plenty of steps, beyond the last-minute rush to file every April, that…

WilkinGuttenplanJune 28, 2022

Articles International Commerce Group International Tax Tax Services

Tax Benefits While Working Outside of the U.S.

It is hard to estimate the number of Americans living abroad but globalization in general and the pandemic, in particular,…

Lina LadekarlJune 17, 2022

Articles Business Tax Tax Services

IRS Increases Optional Standard Mileage Rate in Response to Steep Rise in Gasoline Prices

In response to rising gasoline prices, the IRS has announced an increase to the optional standard mileage rates for business,…

Shruti GandhiJune 13, 2022

Articles Business Tax Tax Services

New York Budget Expands PTET Benefit; Extends Election Deadline

New York Governor Kathy Hochul recently passed several pieces of legislation in connection with the New York 2023 fiscal year…

Stephanie HolstonMay 26, 2022

Articles International Commerce Group International Tax Tax Services

The Basics of Transfer Pricing

What is transfer pricing? Broadly, transfer pricing is how profit is allocated among commonly controlled entities. For U.S. federal income…

Franchelly Diaz ColonMay 6, 2022

Articles International Commerce Group International Tax Tax Services

Introduction of UAE Federal Corporate Income Tax

Long considered a “no tax” jurisdiction, on January 31, 2022, the Ministry of Finance announced that the United Arab Emirates…

Deepika IyerMay 5, 2022

Articles Tax Services

Significant Tax Changes Proposed in President’s 2023 Budget

On March 28th, 2022, President Biden released his 2023 budget, which included several significant tax changes. The President's budget is…

Bill McDevittMarch 28, 2022

Articles Tax Services

Senate Bill Would Restore the Employee Retention Credit

Last week, a bipartisan group of senators introduced a bill that would retroactively reinstate the Employee Retention Credit (“ERC”) for…

Stephanie HolstonFebruary 17, 2022