Tax
Action Required for Certain Non-Filers to Obtain Maximum Economic Impact Payment
April 21, 2020 | Wendy Hoey Sheinberg | |
April 21, 2020 | Wendy Hoey Sheinberg | |
The IRS on April 20, 2020, issued a special alert for non-filing Social Security or Railroad Retirement Benefit Recipients with qualifying children under 17 (“non-filers”). In order to receive the additional $500 payment per eligible child added to the $1,200 Economic Impact Payment, non-filers must register on the IRS’ Non-Filer tool site by 12 p.m. …
Read More
Read More
Lower Stock Prices’ Silver Lining: Good Time to Gift Assets
April 2, 2020 | Jeffrey S. Greener | |
April 2, 2020 | Jeffrey S. Greener | |
The recent stock market volatility due to the coronavirus has understandably caused concern. When the market drops, however, it presents a great estate planning opportunity. Then, it’s the perfect time to gift assets to loved ones at a significant discount, something that would not have been possible even one month ago. Lower stock prices allow …
Read More
Read More
An Important Message during Difficult Times
March 30, 2020 | Jeffrey S. Greener | |
March 30, 2020 | Jeffrey S. Greener | |
Friends and colleagues- My thoughts are with you during these uncertain times. First and foremost, I want you and your family to stay safe and healthy. Social distancing is a small price to pay for guarding the wellness of our most vulnerable. Second, I am sure you are anxious about your health and the health …
Read More
Read More
IRS Provides Answers to FAQs Regarding COVID-19 Relief
March 25, 2020 | Katherine A. Heptig |
March 25, 2020 | Katherine A. Heptig |
In an effort to provide as much timely guidance as possible, the IRS has created a Frequently Asked Questions (FAQs) site to address taxpayer questions and concerns with respect to recently promulgated Notice 2020-18. The Notice generally provided relief with respect to income tax return filings and payments and the FAQs serve to guide taxpayers …
Read More
Read More
90 Days of Relief on Federal Income Tax Filings and Payments
March 20, 2020 | Katherine A. Heptig |
March 20, 2020 | Katherine A. Heptig |
As part of the federal government’s continued efforts to minimize the economic disruptions caused by the coronavirus pandemic, U.S. Treasury Secretary Steven Mnuchin on March 20, 2020, announced that the April 15th deadline for filing individual income tax returns for tax year 2019 has been moved to July 15, 2020. In addition to relief on …
Read More
Read More
‘Taxpayer First Act’ Signed into Law
July 10, 2019 | Katherine A. Heptig |
July 10, 2019 | Katherine A. Heptig |
On July 1, 2019, President Trump signed the Taxpayer First Act into law. The Act represents an important and welcome step toward improving technology and security while providing for an overall improved service experience for taxpayers interacting with the IRS. The Act contains two parts. The main themes of the first portion of the Act …
Read More
Read More
Internet Seller Beware
June 27, 2018 | |
June 27, 2018 | |
Due to a recent Supreme Court decision, internet sellers may now be required to collect and remit sales taxes in states in which they have no physical presence. In the landmark case of South Dakota v. Wayfair, Inc., decided on June 21, the Court overturned its prior decisions that had provided that an out-of-state seller …
Read More
Read More
Starting Jan. 1, IRS Can Collect Tax Deficiencies Directly from Partnerships
December 5, 2017 | Katherine A. Heptig | |
December 5, 2017 | Katherine A. Heptig | |
A new audit regime, effective January 1, potentially shifts tax liabilities among partners. Starting in 2018, the IRS will be authorized to collect tax deficiencies directly from a partnership (including LLCs taxed as partnerships). This will result in current partners bearing tax liabilities relating to prior taxable years, even though the partnership may now have …
Read More
Read More
IRS In the News
May 31, 2013 |
May 31, 2013 |
Sequestration and the IRS Earlier this year, the previously little-known word of “sequestration” was catapulted to the forefront of the news because effective March 1, 2013 the American Taxpayer Relief Act of 2012 mandated an approximate $1 trillion spending cut for federal agencies over a 10-year period. So, what exactly is sequestration and how does …
Read More
Read More
Net Investment Income Tax
|
|
The “Obamacare” tax on net investment income came into effect on January 1, 2013 although the guidance on the regulations under Section 1411 is not effective until after December 31, 2013. First and foremost – what is this new tax? Basically, taxpayers must add an additional 3.8% tax on the lesser of their net investment …
Read More
Read More
Topics
- Appeals
- Banking
- Bankruptcy
- Cannabis
- Commercial Litigation
- Complex Torts & Product Liability
- Compliance, Investigations & White Collar
- Construction
- Corporate
- Directors & Officers Liability
- Employment & Labor
- General Liability
- Health Services
- Immigration
- Insurance Coverage
- Insurance Fraud
- Intellectual Property
- Medical Malpractice Defense
- Privacy, Data & Cyber Law
- Professional Liability
- Real Estate, Zoning & Land Use
- Tax
- Trusts & Estates