Recent Articles
Bankruptcy Won’t Wipe Out $1M Tax Debt for Irresponsible Taxpayer
Judge Rules Lawyer Willfully Evaded Tax Obligations Over 14 Years A Kentucky lawyer and business owner attempted to use bankruptcy to erase 14 years of unpaid income taxes. The court ruled against this strategy, citing willful tax evasion as the...
Tariffs and Tax Cuts Take Center Stage in Trump’s Economic Agenda
Trump’s Policies Aim to Boost U.S. Manufacturing, Slash Taxes, and Reshape Trade Tariffs and Tax Cuts: Trump’s Vision for Economic Growth Donald Trump’s economic agenda places heavy emphasis on tariffs and tax cuts as key strategies to revitalize the U.S....
Supreme Court Overturns Chevron: A New Era for Tax Guidance
How the End of Chevron Deference Reshapes Federal and State Tax Laws The United States Supreme Court made history on June 28, 2024, by overturning the landmark Chevron USA Inc. v. Natural Resources Defense Council, Inc. decision. In its ruling...
Corporate Transparency Act Update: Filing Requirements Temporarily Suspended
Federal Court Ruling Temporarily Halts Mandatory Beneficial Ownership Reporting A recent court ruling has brought temporary relief to reporting companies regarding the filing of beneficial ownership information under the Corporate Transparency Act (CTA). While the mandatory filing requirement is currently...
Hundreds of Nonprofits Rally for the Charitable Act
Charities Seek Congress’ Support for Tax Deduction Incentives to Revive Giving A coalition of nonprofits and businesses is urging Congress to address the alarming decline in charitable giving. The Charitable Giving Coalition (CGC) has called for the permanent restoration of...
Court Lifts CTA Injunction; FinCEN Extends BOI Reporting Deadline
The Treasury Department’s decision provides businesses more time to comply with the Corporate Transparency Act’s beneficial ownership information reporting requirements. In a significant development, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has extended the deadline for businesses to file...