Tax & Accounting Blog
Tax & Accounting Blog
The SEC’s new Regulation Best Interest (“Reg. BI”) imposes a set of obligations on broker-dealers when giving advice to retail customers. Reg. BI in part targets transactions involving 401(k) rollovers into…
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President Donald Trump on March 27 signed the $2 trillion bipartisan Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136). The House approved the…
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In 2017, court decisions gave penalty relief to certain taxpayers. Since then, the courts have clarified the scope of these decisions. Second Circuit Sets the Standard Under Code Sec. 6751(b) , certain penalties require that the immediate supervisor of the individual making the…
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The Maryland General Assembly has passed legislation (H.B. 932) that would impose sales tax on specified digital products and codes effective July 1, 2020. The bill, which passed both houses of the Maryland General Assembly…
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The Trump administration has extended the 2020 income tax filing season through July 15. The IRS officially announced the tax relief in Notice 2020-18, released late in the…
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UBIA is the basis in a partnership’s property, and it can work to limit a partner’s section 199A deduction. If a partner recently bought their…
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The Setting Every Community Up for Retirement Enhancement (SECURE) Act was passed in December 2019. Many of its changes are already affecting employers and plan…
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A.B. 5 may impact employee or independent contractor status for California workers. Aimed to protect gig workers, it has tax applications. There are different tax…
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The IRS has some new resources for taxpayers navigating the gig economy. These include: a recent Gig Economy webinar, anda new Gig Economy Tax Center…
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The SECURE Act ended the prohibition against IRA contributions after age 70½. It also preserved the ability to make qualified charitable distributions (QCDs) at age…
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