Firm Insights
Tax Controversy & Litigation
The Corporate Transparency Act: What does a CPA need to know?
More and More Reporting to the U.S. Department of Treasury In a seemingly never-ending quest…
LLCs Taxed as S Corporations: Welcome Relief for Inadvertent “S” Failures
A Disaster Waiting to Happen Picture it: The year is 2003. You are an owner…
Maintaining S Corporation Status – Getting Easier and Less Costly
Preventing a late or invalid S corporation election or termination is a high priority for S…
Who You Calling a Broker? The Infrastructure Bill’s Impact on Cryptocurrency
In 2016, the Treasury Inspector General for Tax Administration (“TIGTA”) recommended that the IRS “revise third-party…
Better Late Than Never: The Wayfair Impact & Missouri’s New Sales Tax Legislation
Over the past decade, online retail has exploded – for many sellers, it is now almost…
The 11th Hour: Tax Planning for the Final Days of 2020
If there is one word that can describe tax planning for a broad cross-section of America…
Sweet Relief: Stimulus Bill Would Confirm PPP Borrower Tax Relief – Consolidated Appropriations Act of 2021
On December 21, 2020, Congress passed the much anticipated COVID-19 relief legislation (Consolidated Appropriations Act, 2021…
New COVID-19 Relief Bill is Filled with Tax Provisions – Consolidated Appropriations Act of 2021
On December 21, 2020, Congress passed the much anticipated COVID-19 relief legislation (Consolidated Appropriations Act, 2021…
PPP Loan Forgiveness Comes with a Price: Lost Deductions
For any employer that expected PPP loan proceeds to be “free money,” the IRS has essentially…
Coronavirus Aid, Relief, and Economic Security (“CARES”) Act: Payroll Tax Implications
The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act includes two very important payroll tax provisions:…
People First Initiative: IRS to Provide Additional Relief to Taxpayers in Response to COVID-19
On Wednesday March 25, 2020, the IRS announced a new initiative focused on temporary relief for…
COVID-19 Consequence: Tax Filing and Payment Deadlines Extended
The federal and Missouri state governments have announced consistent and simple automatic relief from the April…
COVID-19 Consequence: Tax Payment Deadlines Extended
Please note, this post was originally posted on March 18, 2020. Due to quickly developing changes,…
Settle Your Illinois Tax Bill for Less: Illinois Offers Tax Amnesty Program to Relieve Interest and Certain Penalties
On June 5, 2019, the Illinois legislature passed the 2019 Illinois Tax Delinquency Amnesty Act, which…
Can I Prepare that Return?: Missouri Provides Guidance for CPAs on Marijuana-Industry Clients
This week, the Missouri Board of Accountancy released a comment concerning Amendment 2 to the Missouri…
IRS Announces Penalty Relief for Some 2018 Underwithholders
The IRS announced yesterday that it will excuse some taxpayers who underwithheld or failed to pay…
I’m Not Withholding on You: Employment Tax Enforcement Remains a Priority
Last week, I had the pleasure of attending the New York University 10th Annual Tax Controversy…
South Dakota v. Wayfair: The End of the “Physical Presence” Test and the Future Reach of Sales Tax
In a 5-4 decision this morning, the Supreme Court upheld the South Dakota law requiring certain…
Tax Code Section 104: Disparate Treatment of Settlement Proceeds
Tax Code Section 104(a)(2) provides that “damages (other than punitive damages) received … on account of…
Passport to Nowhere: What IRS Notice 2018-1 Means for “Seriously Delinquent” Taxpayers
The IRS published its first notice of the year this past Friday – Notice 2018-1 –…
Former Tax Court Judge Pleads Guilty to Criminal Tax Fraud
This past April, I wrote about a federal indictment returned against Diane L. Kroupa, a former judge…
TEFRA Repeal: Opting Into the New Partnership Tax Audit Regime?
Last December, a new law known as the Bipartisan Budget Act of 2015 (the “BBA”) (P.L….
Offshore Entities in Tax Havens: The Panama Papers Explained
It has been about three weeks since the release of the “Panama Papers” set news outlets…
From Tax Court Judge to Tax Fraud Defendant
Arsenio Hall, a late night TV talk show host from the early 1990s, had a segment…
Now is the Time to Prepare for a Sea Change in Partnership Tax Audits
For owners of limited liability companies (“LLCs”) and partners in partnerships, life in a tax audit…