Financial News

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 [...]

At the present time, it appears that legislation to repeal and replace the Affordable Care Act (ACA) – including the related 3.8% net investment income tax and additional 0.9% Medicare surtaxes – [...]

On January 20, 2017, Donald J. Trump will be sworn into office as the 45th President of the United States.  With a Republican House and Senate, we are likely to see changes in the way of tax [...]

WASHINGTON, D.C. (OCTOBER 7, 2016) BY MICHAEL COHN The Internal Revenue Service added new data elements last tax season to its computer system filters to catch suspected cases of identity [...]