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The IRS now is providing a K-2 and K-3 filing exception for the tax year 2021. Read more to see the qualifications. Read More

The IRS has announced a new campaign to crack down on partners who deduct losses that may exceed the basis in their partnership interest. The Partnership Losses in Excess of Partner’s Basis Campaign is part of a larger effort by... Read More

Technology companies who sell access to software or platforms via the Internet could be subject to complex state and local tax obligations. Read More

Private equity (“PE”) groups invest in middle-market companies creating numerous benefits to companies and investors alike; however, it also creates the potential for the state tax posture of the operating company or target company to unknowingly and drastically change. When... Read More

Middle market companies are on a mission to build sustainable growth while simultaneously managing internal and external forces attempting to blindside that growth. Unfortunately, multistate taxes can be one of those forces or an inhibitor to growth (additional cost of... Read More

Foreign companies operating in the United States may be surprised to learn they have a taxable presence for state income tax or sales tax purposes even though they may not pay any federal income tax. No PE, No Problem If... Read More

Georgia’s law has enough unique factors to cause complexity and require analysis before a company (and its shareholders/partners) should decide to make a pass-through entity election. Read More

By Brian Strahle At this stage of our online and remote world, most businesses that sell over the Internet are engaging in one or several of the nine activities California asserts will create income tax nexus. The path of activities... Read More

VF Holdings' 2011 acquisition of Timberland Co. has resulted in a $505 million tax bill recently upheld by the Tax Court in TBL Licensing LLC v. Commissioner. Read More

The AICPA and other accounting organizations sent a strongly-worded letter to IRS and Treasury all but demanding that the IRS immediately grant penalty relief and suspend other compliance measures until the IRS solves its many problems. Read More