Tax

Third-party payment networks will be required to send business users Form 1099-K for transactions that equal $600 or more in the aggregate. Read More

The House passed the $1.75 trillion Build Back Better Act on November 19, 2021, and the legislation is now under Senate consideration. Known as H.R. 5376, the legislation is the second prong of President Biden’s social and economic policy program.... Read More

Finance Committee Chairman Ron Wyden, D-Ore., has released a proposal for a special new tax on high-net-worth individuals. Read More

Because of the controversy surrounding bank account reporting and the “widespread mischaracterization” of the plan, the Treasury Department has taken the unusual step of releasing a fact sheet in advance of bill passage. Read More

The $3.5 trillion infrastructure bill has cleared the House tax writing committee and now is the subject of intense negotiations to move it forward. Read More

Fans of best-selling crime author Karin Slaughter can’t wait for the release of her Netflix series, Pieces of Her. The author, an Atlanta native who has sold a reported 35 million copies of her books worldwide, is known for dark... Read More

Liability for the estate tax falls on the estate assets and is limited by the value of those assets. Executors and beneficiaries generally do not have personal liability for estate taxes although the IRS can come after the assets held... Read More

To get Republican buy-in, Congressional Democrats have avoided adding tax increases to the bipartisan Infrastructure Investment & Jobs Act currently under consideration in Congress. How will they fund the bill? One tax-related source of revenue would come from broker reporting... Read More

  On June 30, 2021, the NCAA Board of Directors announced a temporary rule change that allows college athletes to profit from the use of their name, image, and likeness (NIL). The new policy went into effect on July 1,... Read More

After competing for the lowest tax rates for years, 132 countries holding 90% of the world’s GDP have agreed to a framework for a global minimum tax on corporations. The plan, described in an OECD Statement, is a two-pillar package... Read More