Federal Court Finds Corporate Transparency Act Unconstitutional
A U.S. District Court judge in Alabama has ruled the Corporate Transparency Act (CTA) unconstitutional. The CTA was enacted as part of the Anti-Money ...
New Reporting Rules for Businesses: Compliance Obligations Explained
Your business may soon have to meet new reporting requirements that take effect on January 1, 2024. Under the Corporate Transparency Act (CTA), ...
Future Emergency? Two New Tax Provisions May Soon Provide Relief
Perhaps you’ve been in this situation before: You have a financial emergency and need to get your hands on some cash. You consider taking money out ...
IRS Provides Transitional Relief for RMDs and Inherited IRAs
The IRS has issued new guidance providing transitional relief related to recent legislative changes to the age at which taxpayers must begin taking ...
What’s in the Fiscal Responsibility Act?
President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). ...
The IRS Clarifies What Counts as Qualified Medical Expenses
The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs).
EV Tax Credit 2023: What’s Changed and What’s Ahead
Electric vehicles are gaining in popularity – and for a good reason. Not only are they environmentally friendly, but they also have tax benefits. In ...
Year-end Spending Package Tackles Retirement, Conservation Easements
On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023. The sprawling year-end spending "omnibus" package includes two ...
New School Year Reminder: Maximum Educator Expense Deduction Rises
As the new school year begins, the Internal Revenue Service reminds teachers and other educators that they'll be able to deduct up to $300 of ...