State and local tax—State corporate tax implications of Section 174 changes for 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...
New, lower Form 1099-K threshold prompts cautions, criticisms
Mar 12, 2022
The new-for-2022 law change that sharply reduced the reporting threshold at which third-party payment settlement entities must issue a Form...
Reporting aspects of Sec. 743(b) adjustments
Mar 4, 2022
The reporting rules for partnerships regarding basis adjustments under Sec. 743(b) have been in place for over 20 years, but,...
IRS offers further K-2/K-3 relief
Feb 23, 2022
The IRS provided transition relief Wednesday under which eligible pass-through entities will not have to file new Schedules K-2 and...
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