On Sept. 13, 2021, the U.S. House Ways and Means Committee announced a proposal to limit charitable deductions for conservation easement contributions made by partnerships and other passthrough entities. The
Continue Reading House Proposal Targets Charitable Deductions for Conservation Easements by Passthrough Entities
The U.S. Senate passed its infrastructure bill (the “Bill”) that includes additional cryptocurrency reporting requirements, which are expected to generate $28 billion in revenue. The Bill currently does not provide
Continue Reading UPDATED: Infrastructure Bill Contains New Cryptocurrency Reporting Requirements
The IRS has published guidance stating that pre-2018 swaps among Bitcoin, Ether, and Litecoin are not eligible for 1031 tax-free exchange treatment. This means that investors who made swaps among
Continue Reading IRS Says No Tax-Free Exchange Treatment for Swaps of Bitcoin, Ether, and Litecoin
In February 2020, the IRS announced that it would step up efforts to contact high-income taxpayers (defined as earning $100,000 or more per year), who in prior years have failed
Continue Reading The IRS Announced a New Non-Filer Initiative Over a Year Ago – Now We See the Enforcement
On April 19, Gov. DeSantis signed into law a sweeping tax package, Senate Bill 50, that provides both temporary and long-term relief to Florida businesses. The new law requires
Continue Reading Florida Requires Sales Tax Collection on All In-Person and Online Sales, Effective July 1
On March 31, 2021, President Joe Biden unveiled a $2 trillion infrastructure and economic recovery plan (American Jobs Plan) to strengthen the post-pandemic economy. The American Jobs Plan
Continue Reading Corporate Tax Hikes for Biden’s Infrastructure Plan
New York has legalized adult use recreational marijuana for cultivation, processing, and sale in New York. The Marijuana Regulation and Taxation Act (S.854-A/A.1248) (MRTA) was signed into law by the
Continue Reading Tax Issues and the New York Marijuana Regulation and Taxation Act
On Dec. 21, 2020, Congress passed a COVID-19 relief bill (the Consolidated Appropriations Act, 2021) including the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which would provide much-anticipated
Continue Reading Taxpayer Certainty and Disaster Tax Relief Act of 2020: Spotlight on the Proposed Extensions of Certain Alternative Energy Tax Credits
With the possible advent of widespread regional Coronavirus Disease 2019 (COVID-19) lockdowns around the United States, it is an appropriate time for a reminder about the availability of the 50%
Continue Reading Employee Retention Tax Credit Available to Businesses Because of New Lockdowns
