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Senate Finance Committee Chairman Ron Wyden (D-OR) recently released the Small Business Tax Fairness Act which, if enacted, would make changes to the 20% deduction that is available under IRC Sec. 199A for income earned through partnerships, LLCs, S corporations and sole proprietorships.

In an effort to combat identity theft and fraud security issues, the IRS is urging corporations, partnerships, trusts and estates and other entities with EINs to update their information if there has been a change in the responsible party or contact information.

The Health Opportunity Patient Empowerment Act of 2006 allows for a one-time penalty- and tax-free rollover of money from your traditional IRA to a health savings account (HSA). This content takes a look at this rollover, known as a qualified HSA funding distribution.

A review of recent and projected economic activity in the U.S., in light of the pandemic and efforts to spur recovery.

On September 13, 2021, Richard Neal, chairman of the House Ways & Means Committee, released far-reaching tax proposals. EisnerAmper has summarized the highlights of these tax proposals, and will continue to keep you informed on this important tax legislation as developments warrant.

This article examines IRS and Treasury efforts to inform taxpayers and tax practitioners about their concern whether the structure and form of certain syndicated conservation easement transactions constitute bona fide charitable contribution deductions for federal income tax purposes or whether they are in reality abusive tax shelters – as well as enforcement efforts.

This article provides an overview of many of the details of the American Jobs Plan and American Families Plan.

Governor Cuomo signed legislation which included the creation of a PTE Tax program, allowing partnerships and subchapter S corporations to elect to participate.

The Senate’s bipartisan infrastructure plan requires cryptocurrency brokers to increase transparency by reporting transaction data to the IRS. This article examines a few areas of focus, including definition of broker, reporting requirements, and enforcement actions.

What mistakes to avoid that can otherwise result in costly IRS penalties from the Affordable Care Act.

Strengthen your organizations cybersecurity with Identity Access Management (IAM). Learn the basics of multi-factor authentication, access control, role-based permissions, and how IAM can assist your organization with self-governance.  

The SEC’s updated cybersecurity risk management rules for investment advisors, registered investment companies, and business development companies aim to enhance cybersecurity preparedness, improve disclosure of cybersecurity risks and incidents to clients and investors, and strengthen SEC oversight.

Each investment adviser registered with the SEC is required to document in writing an annual compliance review as prescribed by Rule 206(4)-7 of the Advisers Act, effective November 13, 2023. This article outlines a few considerations for investment advisers to ponder before initiating an annual compliance review.

The Treasury announced that it will propose reforms to mitigate the burdens created by 8 specified tax regulations. The eight regulations are as follows.

It is prudent that businesses know the effects of lowered future federal corporate income tax rates and adopt all or some of the following strategies to put themselves in position to respond to reform at every stage.

The Treasury and IRS issued 277 pages of proposed regulations that implement partnership audit rules contained as part of the Bipartisan Budget Act of 2015 (BBA). They are substantially the same as proposed regulations from January, 2017.

President Trump’s tax proposal provided key principles that the Administration plans to work with Congress to enact, including lowering the corporate tax rate, establishing a territorial tax system and creating an opportunity to repatriate money.

Your odds of a favorable IRS tax outcome are much better when you work with a tax professional to develop an effective plan rather than going it alone. Here are some things to consider when engaging a tax resolution expert.

In its highly anticipated decision in the Grecian Magnesite Mining v. Commissioner case, the Tax Court on July 13, 2017 effectively invalidated IRS Revenue Ruling 91-32.

In Notice 2017-36, the Treasury Department and IRS have announced that they intend to delay the application of the documentation rules by 12 months. These rules will now apply only to interests issued or deemed issued on or after January 1, 2019.