On the heels of intense legislative negotiations, the One Big Beautiful Bill Act (OBBBA) has officially been signed into law, ushering in one of the most significant overhauls of the tax code in recent memory. The legislation includes a wide range of provisions affecting individual taxpayers, ...
Tax Legislation
Congress is in the midst of negotiating one of the most sweeping federal tax packages in years: the One Big Beautiful Bill Act (OBBBA). Originally passed by the House with strong Republican backing, the bill proposes significant changes to business expensing, individual tax deductions, charitable ...
The importance of this decision cannot be understated, and the impact will be felt throughout every industry, says Matthew John McNally, Managing Partner, Evolved Tax & Advisory
In a rapidly changing financial landscape, Americans are flocking to fixed-income investments, attracted by the promise of higher returns. However, the excitement of increased earnings is often overshadowed by unexpected tax bills. Investors have poured a large chunk of their savings into ...
The Internal Revenue Service (IRS) recently unveiled proposed regulations aimed at establishing clear procedures and rules for eligible taxpayers to transfer or sell clean energy tax credits under the Inflation Reduction Act of 2022.
Connecticut Governor Ned Lamont signed budget bill H.B. 6941 on June 12, 2023 making major changes to the state’s pass-through entity tax (PTET). Beginning in 2024, the PTET will be optional rather than mandatory. Eligible entities that wish to elect to pay the tax must provide the Connecticut ...
Have you ever wondered how many days you have to correct an e-file rejection and resubmit your tax return or extension to be considered timely? Per Publication 4163 Tax Preparers have the following grace periods to correct and retransmit returns or extensions that were timely filed but were ...
The case of United States v. Colliot (2018) involves Dominique G. Colliot, a U.S. taxpayer who failed to file the required FBARs for his foreign bank accounts. The Internal Revenue Service (IRS) assessed penalties against Colliot for both non-willful and willful FBAR violations. Colliot contested ...
The Discount Window lending is at levels not seen since the Great Recession, with banks borrowing billions of dollars in order to shore up their balance sheets and maintain sufficient liquidity.
For growth-minded startups, capital is everything. Traditionally, this capital has come from angel investors, venture capital, friends, family, and frequently, from a loan or an entrepreneur’s personal funds.