Firm Insights
The IRS published its first notice of the year this past Friday – Notice 2018-1 – providing guidance for implementation of Internal Revenue Code Section 7345. Wait, step back a moment… what is happening? On December 4, 2015, the Fixing America’s Surface Transportation Act (the “FAST Act”) was signed into law. The FAST Act includes…
Read MoreBitcoin, and other virtual currencies, had a heck of a year in 2017. Bitcoin started the year trading at about $1,000 per coin; by year’s end, its value had skyrocketed to about $14,000. Ethereum jumped from less than $10 to over $700. Monero’s price similarly went from about $11 in January to about $350 on…
Read MoreEffective as of tax years beginning in 2018, the rules for how the IRS audits companies taxed as partnerships will change dramatically. As many business owners may recall from reading client alerts and news articles over the past couple of years, the Bipartisan Budget Act of 2015 (the “BBA”) (P.L. 114-74), repealed the existing partnership…
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