State and local tax—California updates P.L. 86-272 guidance due to “technological advancements”
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...
IRS Suspends Mailing of Automated Taxpayer Notices
Feb 11, 2022
The IRS announced Wednesday in a news release the letters and notices it will not send taxpayers as it works through its...
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