TAX REFORM 2022 – BUILD BACK BETTER

Treasury Department Releases Greenbook Outlining 2023 Budget Revenue and Tax Proposals

On March 28, 2022, the Biden administration released its Fiscal Year 2023 Budget proposal (beginning October 1, 2022). Simultaneously, the U.S. Department of the Treasury

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Contractors May Benefit From SALT Cap Workaround

Contractors organized as a pass-through entity (PTE) may be eligible for a sizeable federal income…

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New Research and Development Capitalization Requirement Shuffles System

For tax years beginning before January 1, 2022, taxpayers could deduct research and experimental (R&E)…

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2023 Legislative & Regulatory Update

As we prepare to close out 2023, let’s take a look at the year’s legislative…

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Can “Moore” Tax be Refunded from IRS? How to Protect Your Potential Claim for Refund of §965 Foreign Corporation Transition Tax

The Supreme Court has agreed to hear a case challenging the constitutionality of the transition…

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5 Red Flags of Fraudulent ERC Providers

The IRS has issued increasing warnings urging taxpayers to beware of ads that promise big…

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IRS Issues Moratorium on Processing New Employee Retention Credit Claims

Over the past few months, the IRS has issued increased warnings urging taxpayers to beware…

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IRS Releases Guidance on the Requirement to Capitalize Research and Experimental Expenditures

On Friday, September 8, 2023, the Treasury Department and Internal Revenue Service (collectively the IRS)…

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How Did the IPIC Method Fare for Auto Dealerships Inventory in Year 2?

The SD Auto Advisors were all over the Inventory Price Index Computation (“IPIC”) method of…

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New Pennsylvania Annual Report Filing Requirement

Starting in 2024, all businesses, including foreign associations, that are registered to do business in…

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PA PIT Section 179 Deduction

The Pennsylvania Department of Revenue issued Personal Income Tax Bulletin 2023-02 (the “Bulletin”) on August…

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