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Massachusetts Moves Quickly to Implement Pass-through Entity Tax for 2021
Massachusetts is the most recent state to adopt an elective pass-through entity (PTE) tax. Despite... more
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Maryland Pass-Through Entities Making Entity-Level Election
At the end of June, the Comptroller of Maryland finally released its revised income tax forms to... more
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Is the SALT Cap Coming to an End?
The Tax Cuts and Jobs Act (TCJA) was one of the largest pieces of tax legislation passed within the... more
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IRS Confirms 2020 IRA and HSA Contribution Deadlines Extended to May 17, 2021
On March 17, 2021, the IRS extended the filing due date for individual tax returns to May 17, 2021.... more
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American Rescue Plan Act of 2021
On March 11, 2021, Congress signed into law the American Rescue Plan Act of 2021, the latest... more
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Increase in Dependent Care FSA Limit for 2021
Under the recently signed American Rescue Plan Act of 2021 (ARPA), the dependent care flexible... more
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Maryland Comptroller Has Extended 2020 Income Tax Due Dates to July 15th
The Comptroller has extended the 2020 income tax filing and payment deadlines to July 15, 2021. The... more
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U.S. Taxpayers Subject to Foreign Digital Economy Taxes without Physical Footprint
Historically, certain types of foreign taxes in a foreign country may not have applied to U.S.... more
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When to File CFC Interest Expense Limitation Elections
The TCJA U.S. Federal tax reform legislation enacted a business interest expense limitation... more
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New International Tax Reporting Required with Partnership and S Corporation Tax Returns
In recent years, the IRS has continued to emphasize U.S. international tax reporting as a high... more
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S Corporation Acquisitions with Foreign Target Corporations
There are a couple of different structuring options for the acquisition of an S corporation. A... more
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U.S. Government Contractors and Foreign Branch Reporting on Form 8858
Beginning with the tax year 2018, the IRS now requires U.S. taxpayers to file the U.S. federal Form... more