Financial News

The recently passed “Inflation Reduction Act” was signed into law on August 16, 2022 and contains provisions directed at clean vehicle benefits (new and used), solar tax credits, energy home [...]

Our office has recently learned that due to errors with the State of California Franchise Tax Board’s (FTB) processing of passthrough entity tax payment vouchers, the FTB is erroneously issuing [...]

To alleviate some of the financial burden of the Coronavirus Pandemic, the CARES Act created the Employee Retention Tax Credit (ERTC), among other tax credits (see prior DKC News article here).  [...]

On March 29, 2022 the House of Representatives passed H.R. 2954 which is commonly referred to as the SECURE Act 2.0. Currently, this bill is being debated in the Senate and it is unclear which [...]

AB 150: Passthrough Entity Elective Tax Update As an update to our newsletter issued earlier this month, there has now been a bill signed by California Governor Gavin Newsom (Senate Bill 113) [...]

As an update to our newsletter issued in late August, there have been some clarifying publications issued by the California Franchise Tax Board in connection with making the Passthrough Entity [...]

The tax deadline to submit 2021 tax returns and payments (or an extension to file) is Monday, April 18, 2022 for both the IRS and California Franchise Tax Board. Taxpayers requesting an extension [...]

The Taxpayer First Act was signed into law by President Trump on July 1 st . This bill includes new provisions focused on improving service for taxpayers: The bill establishes a new IRS [...]

The U.S. experienced a partial government shutdown from Dec. 22, 2018 to Jan. 25, 2019, the longest in U.S. history, and this has disrupted the service of multiple federal agencies, including the [...]

Senate Republicans are planning to move tax reform legislation through the budget reconciliation process this fall, Senate Majority Leader Mitch McConnell announced on August 1. Only 50 Senate [...]