Federal Tax Updates

Timely analysis of federal tax law changes, guidance, and developments affecting practitioners.

Two Key Provisions of the SECURE 2.0 Act

The new SECURE 2.0 Act contains many provisions covering retirement plans, going beyond what was provided in the original SECURE Act. Passed in the last days of 2022, the…

Disaster Relief for Taxpayers

As Florida begins the recovery process from Hurricane Ian, Puerto Rico deals with the effects of Hurricane Fiona, and California continues to suffer from wildfires, we find ourselves in the…

Special 100% Depreciation Allowance Ending This Year

Over the last five years, we’ve grown accustomed to advising clients about being able to write off a lot of items that would otherwise be depreciated over a period of…

Is the IRA Still Stretchy?

Since the passing of the SECURE Act it has become commonplace, as practitioners, to deal with the 10-year rule that has been placed on retirement plans for clients wishing to…

An Overview of the Inflation Reduction Act

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 into law. The Act has various provisions affecting a broad spectrum of Americans, making it important to…

Automatic Penalty Relief for Some 2019 & 2020 Tax Returns

IRS provides broad-based penalty relief for certain 2019 and 2020 returns due to the pandemic; $1.2 billion in penalties being refunded to 1.6 million taxpayers On August 24, 2022, the…