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IRS Focus: Green Energy Incentives and High-Income Individuals

At a recent Tax Executives Institute event, Holly Paz, the deputy commissioner of the IRS’s Large Business & International division, […]

Posted By Tonneson
In Business Tax, Individual Tax
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October 5, 2022Posted By Tonneson

IRS Upgrades: What Better Funding Means for the IRS—and You

The recently passed Inflation Reduction Act includes $80 Billion in funds over the next 10 years to overhaul the IRS. […]

September 30, 2022Posted By Tonneson

IRS Announces Interest Rate Increases for the Fourth Quarter of 2022

Higher federal short-term interest rates have caused the IRS to increase its interest rate for over and under-payments of tax obligations. Learn more about the updated interest rates for Q4 of 2022.

September 29, 2022Posted By Tonneson

High Inflation Got You Down? LIFO is Worth a Look

Tired of hearing about inflation? Brace yourself: despite federal attempts to tamp it down, odds are we’ll be dealing with […]

September 27, 2022Posted By Tonneson

Highlights of the Inflation Reduction Act of 2022

On Tuesday, August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 into law. This sweeping legislation includes […]

March 10, 2022Posted By Tonneson

K-2 and K-3: The New International Reporting Requirement

The IRS has made significant changes this year that will impact many pass-through entities (Partnerships and S Corporations) regarding how […]

February 7, 2022Posted By Tonneson

New Rules on Claiming Foreign Tax Credits

On November 12, 2021, the U.S. government released an update on how to claim foreign tax credits. Effective with the […]

December 30, 2021Posted By Tonneson

Massachusetts Enacts PTE Elective Excise as Workaround to $10k SALT Cap

Massachusetts enacted HB 4009 on September 30, 2021, becoming another state to give pass-through entities (PTEs) the option to be […]

December 10, 2021Posted By Tonneson

Year-End Tax Letter 2021

Our 2021 Year-End Tax Letter outlines important guidelines for compliance with federal and state rules of taxation and reporting requirements. […]

March 1, 2021Posted By Tonneson

American Rescue Plan Act passed by the House

On Saturday, February 27, the House passed the $1.9 Trillion American Rescue Plan Act (ARPA) of 2021 (H.R. 1319) which […]

January 14, 2021Posted By Tonneson

SBA Opens Applications to More Lenders on Friday and Monday

The Small Business Administration (SBA) has announced that lenders with $1 billion or less in assets can start making Paycheck […]

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