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IRS to Grant Filing Extension to Farmers and Fishermen Due to Tech Problems

Mar 25, 2022

The IRS intends to issue a notice providing penalty relief for qualifying farmers and fishermen filing Forms 7203 if they...

Explaining the Most Common Tax Forms for 2022

Mar 23, 2022

Wading through the various forms with seemingly identical titles can be confusing, so here’s a breakdown of the forms most...

S corporation shareholder recomputation of basis

Mar 21, 2022

The IRS recently released draft Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations, to complement Form 6198, At-Risk Limitations;...

State and local tax—State corporate tax implications of Section 174 changes for 2022

Mar 16, 2022

In brief The federal 2017 tax reform act enacted changes to Section 174 applicable for tax years beginning after 2021. ...

State and local tax—California updates P.L. 86-272 guidance due to “technological advancements”

Mar 14, 2022

The California Franchise Tax Board (FTB) recently issued a Technical Advice Memorandum (TAM) addressing whether the protections of P.L. 86-272...