Tax Updates

  • Twitter
  • Linkedin
Tax Updates
Section 1245

Section 1245 and 1250: Understanding Depreciation Recapture for Building Owners 

Navigating the complexities of tax law in real estate can be challenging, even for experienced investors. However, when managed effectively, these laws offer significant benefits. Two crucial areas to comprehend are Section 1245 and Section 1250 depreciation recapture, as they can substantially impact tax liabilities when selling a property. A solid understanding of these rules […]
Ohio Commercial Activity Tax

Critical Developments: New Updates on Tax Exemptions for Durable Medical Equi...

The South Carolina Supreme Court recently invalidated a sales tax statute under the Commerce Clau...

Supreme Court Weakens Shield for Taxpayers

In Uline, Inc. v. Commissioner (Minn., No. A23-1561, 2024), the court determined the market resea...

ERC Claim Update, The Pendulum Swings:  IRS Currently Reviewing Claims From S...

On August 8, 2024, the IRS provided an update on the status of Employee Retention Tax Credit (“ER...

Senate Blocks Tax Relief Bill: Section 174 Capitalization and Amortization Ru...

Although many of us had hoped for Congress to pass the bill known as “The Tax Relief for American...

Supreme Court Ruling Ends Chevron Deference, Altering IRS Authority on Ambigu...

The Internal Revenue Service’s interpretation of ambiguous tax laws may no longer be authoritativ...

Prevailing Wage and Apprenticeship

IRS Finalizes Prevailing Wage and Apprenticeship Requirements Impacting Ten K...

Vermont will begin taxing sales of remotely accessed software under Bill H.887. Although initiall...

Vermont's New Tax on Software

Vermont’s New Tax Legislation on Remotely Accessed Software

Vermont will begin taxing sales of remotely accessed software under Bill H.887. Although initiall...

Navigating Clean Energy Tax Credits: IRS Warns of New Scam Targeting Taxpayers

The IRS has recently alerted taxpayers to a new scam surrounding the claiming of purchased clean ...

Franchise Tax. Sales & Use Tax Overpayments in the State of Texas

Key Changes and Implications for Businesses Post Tennessee’s Franchise Tax Re...

The Tennessee General Assembly made changes to the state’s franchise tax. Read more to learn abou...

Team members figuring out the shrink back rule. The IRS

IRS Updates Requirements for Amended Research Credit Claims

The IRS has Updated Additional Information Required for Amended Research Credit Claims. Discover ...

Massachusetts reclassified software developers as manufacturers for tax benefits. Software Developers are now Considered Manufacturers.

Software Developers are now Considered Manufacturers in Massachusetts

Massachusetts reclassified software developers as manufacturers for tax benefits. Software Develo...

form 6567

Revisions to Form 6765

Learn about the tax benefits set to expire after 2025, including qualified business income and bo...