Recent Articles
The U.S. Senate unanimously passed the No Tax on Tips Act (S. 129) on May 20
Background In a bipartisan surprise move, the U.S. Senate unanimously passed the No Tax on Tips Act (S. 129) on May 20. Originally introduced by Senator Ted Cruz (R-TX), the bill reflects a policy championed by former President Donald Trump...
Congress Targets Wall Street’s Favorite Tax Break: Carried Interest Could Be History
THESE PROVISIONS WERE INITIALLY DISCUSSED AS PART OF THE BILL BUT DID NOT MAKE ITS FINAL VERSION THAT PASSED THE HOUSE, PROVIDED HERE FOR REFERENCES OF WHAT COULD HAVE HAPPENED A major tax overhaul is gaining traction in Congress—and it’s...
🧾 IRS Simplifies Corporate Minimum Tax Rules for 2025
📢 Interim Guidance Aims to Cut Compliance Costs Issued via IRS Notice 2025-27 on June 2, 2025 🏢 What is the CAMT? 💼 Corporate Alternative Minimum Tax (“Book Minimum Tax”) 🔍 Purpose: To ensure large, profitable corporations pay at least...
🧾 Hidden in Plain Sight: A New Federal Proposal Could Shield Businesses from State Taxes
A Strategic Look at the House’s “Big Beautiful Bill” and Its Impact on State Income Tax Rules 🗓️ As advanced to the U.S. Senate on May 22 | 🔍 Public Understanding Edition 📌 The Big Picture A quietly placed provision...
⚖️ Case Summary: Tax Court Rules “Limited Partners” Were Actually Active Self Employment Tax Applies
📅 Case Date: May 28, 2025📍 Case: Soroban Capital Partners LP, TC Memo 2025-52🏛️ Court: U.S. Tax Court 🔍 Background at a Glance 🧾 Entity Involved:Soroban Capital Partners LP, a Delaware registered limited partnership (LLC structure), based in New York....
📘 “Big Beautiful” Tax Bill: What It Means for Payroll, Benefits & Taxpayers
A Guide for Businesses, Workers, and Tax Professionals 🗓️ Passed by House Ways and Means Committee – May 14, 2025 The latest House tax reconciliation bill introduces a wide range of reforms impacting payroll, employee benefits, and tax planning. From...