Moving your retirement money around is now easier than ever. In a conciliatory move for taxpayers, the IRS has issued new rules that allow you to minimize your tax liability when you move 401(k) funds into a Roth IRA or... Read More
The Biden Administration and moderate Republicans have come to an agreement on a scaled-back infrastructure framework that drops proposed tax increases. Instead, the plan will be funded through a combination of closing the “tax gap”, redirecting emergency funds, targeted corporate... Read More
Hospitals, clinics, and other healthcare providers who purchase certain medical supplies used in treating patients may qualify for a sales tax refund at the state or local level. Understanding the situations that may indicate a tax refund opportunity can help... Read More
President Biden’s proposal to increase the capital gains tax has generated tremendous discussion. Looking at this proposed change in the context of past changes shows that both Democratic and Republican presidents have signed legislation with retroactive tax provisions. A retroactive... Read More
The U.S. Department of Labor (DOL) has withdrawn a rule put in place by the Trump Administration that would have treated workers in the gig economy as independent contractors instead of employees under federal labor law. In early 2021, under... Read More
President Biden has proposed significant tax compliance measures as an alternative way to fund his ambitious American Families Plan. Recently, he offered Republicans compliance measures as an alternative to individual tax increases, but Republicans still consider new compliance measures a... Read More
When there is a transition of power, changes can also be expected to the tax system. Frazier & Deeter international tax experts discuss these potential changes and how the different US tax structure could affect companies seeking to expand into... Read More
Increasing the corporate tax rate to 28% is the cornerstone of President Biden’s Made in America Tax Plan, unveiled as part of a proposed $2 trillion infrastructure and jobs program. Other tax provisions target international profit shifting, offshoring incentives and... Read More
The timing of income inclusion for taxpayers using the accrual method is explained in IRS final regulations, reflecting changes made by the Tax Cuts and Jobs Act. The regulations focus on taxpayers with an applicable financial statement and those that... Read More
The IRS has finalized rules for the deduction limitation on executive compensation which was revised by the TCJA. The 2017 changes further restricted the deduction, applying it to the five top executives of large publicly held corporations, including the Principal... Read More
