The Inflation Reduction Act of 2022 (H.R. 5376, the “IR Act”) contains numerous incentives and support for energy transition efforts in the United States. This includes expanding on the predominately-public funding mechanisms for infrastructure projects set forth in the Bipartisan... Read More
A major tax, climate change and healthcare bill passed the Senate in a rare Sunday session on August 7 on a strict party line. The Inflation Reduction Act of 2022 won approval on a 51-50 vote, with all Democrats voting... Read More
In a rare bipartisan move, Congress has passed legislation to boost the US semiconductor manufacturing industry; the legislation includes an advanced investment credit for producing semiconductors and the tooling equipment required in their manufacture. The CHIPs and Sciences Act of... Read More
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 IRS has announced that it is sending out letters to Qualified Opportunity Funds (QOFs) and their investors requesting more information to certify eligibility. Read More
Tax-related identity theft is a continuing problem, although the IRS and taxpayers have gotten much better at combating it in the last few years. Read More
Georgia Governor Kemp signed HB 1058 making it easier for affiliated corporations to file Georgia consolidated income tax returns. Read More
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
