The American economy is in the midst of a long-lasting structural change following the severe shocks unleashed by the pandemic.
Treasury releases much anticipated proposed FTC regulations
Last Friday, Treasury released proposed foreign tax credit regulations aiming to clarify the cost recovery requirement and royalty withholding ...
Schedules K-2 and K-3 draft instructions for tax year 2022
Pass-through entities and partners alike should understand the compliance changes associated with the IRS's recent release of updated draft ...
Clean energy incentives for manufacturers
The Inflation Reduction Act of 2022 provides new and expanded clean energy incentives for businesses in the manufacturing sector.
New credit amounts for the Production Tax Credit for 2022
IRS announces new tax credit amounts under section 45 of the Internal Revenue Code, for the calendar year 2022.
OECD issues final Crypto-Asset Reporting Framework – now what?
The OECD’s updated crypto-asset reporting framework and CRS amendments will streamline reporting and exchange of information on crypto-assets.
Treasury Priority Guidance Plan 2022-2023 – Exempt Organizations
The Treasury Department and the IRS released the 2022-2023 Priority Guidance Plan, which contains a number of items affecting exempt organizations.
Year-end tax planning considerations
Tax planning considerations for businesses and individuals approaching the end of 2022.
Fed raises its policy rate by 75 basis points as it prepares to slow pace of hikes
The Federal Reserve increased its policy rate by 75 basis points on Wednesday to a range between 3.75% and 4% as it hinted at slowing the pace ...
Business tax considerations amid economic headwinds
Tax considerations to help your business fight economic factors that could lead to a recession.
IRS makes statements on CARES Act Employee Retention Tax Credit risks
On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get ...
IRS releases required minimum distribution (RMD) guidance
Notice 2022-53 announced the IRS’s intent to publish final regulations addressing required minimum distributions (RMDs) from certain plans.
New IRS draft forms reflect broader digital asset enforcement
The IRS changed “virtual currency” to “digital asset” in new draft forms, signaling enforcement efforts toward digital assets, including NFTs.
IRS provides simplified measures for correcting common S corporation missteps
IRS Rev. Proc. 2022-19 provides S corporations with simplified procedures to resolve common issues without a private letter ruling.
End of an era? Bond market selloff prompts a new regime
The dramatic fiscal and monetary response to the pandemic has elicited a structural break in globalization, growth and liquidity regimes that ...
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