The IRS has updated its Required Minimum Distribution (RMD) life expectancy tables. The updated tables take effect for 2022 distributions, with transition rules. This change…
There are different kinds of state taxes imposed on cannabis, including sales and use taxes and excise taxes. In addition, cannabis businesses, like producers, distributors,…
Under new federal partnership audit rules, partnerships must designate a representative. That person has sole authority to act on behalf of the partnership under the…
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The IRS recently clarified eligibility for the employee retention credit after an Acquiring Employer acquires a Target Employer that received a Paycheck Protection Program (PPP)…
As has been widely reported, Facebook recently settled a class action lawsuit brought against the company for alleged violations of the Illinois Biometric Information Privacy…
California has proposed a new tax voucher program that would raise revenue for the state without increasing taxes. Under the program, taxpayers purchasing the vouchers…
Taxpayers may be able to get a significant tax refund for bonus depreciation if: A larger property that includes separately acquired or constructed components is…
As the end of 2020 approaches, individuals should remember that some special rules apply to charitable contributions deductions for the year. These include an Taxpayer…