Tax Update Blog

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Tax News & Views will help you stay informed with what's happening in the tax world. Whether it's a new tax law tacked on to a spending bill, a new court case that reminds us of venerable tax lessons, or a surprising approach by states to tax non-residents, it's fair game.

We will cover tax issues impacting middle-market, closely-held businesses and their owners, as well as how tax affects your nonprofit or government entity. View our latest blog posts below or subscribe to stay informed.

Latest Posts

October 27, 2020
Blog
IRS adjusts brackets, exemptions for inflation for 2021. Presidential tax plans, or non-plans. New 1040 Cryptocurrency instructions. Flandreau Santee Sioux 1, South Dakota 0. Easements. Rules of the Road Pizza.
October 26, 2020
Blog
Why you need a trusted advisor to help with PPP forgiveness. Trump's unlikely explanation for his $750 income tax. IRS draft 1040 instructions shed light on crypto question. California disaster relief.
October 23, 2020
Blog
Bipartisan effort to boost Research and Development tax credits. Concern arises over IRS readiness for next tax season. Draft 2020 1065 contains capital reporting requirements. Oakland's aggressive Turkey problem solved.
October 22, 2020
Blog
COVID negotiations continue; doubts for pre-election deal. Obstacles to Biden tax goals. IRS mistakenly revokes tax exemptions. Cannabis accounting ploy smoked? Happy Birthday, Internal Revenue Code.
October 21, 2020
Blog
COVID relief deal negotiations continue past deadline. Wildfire deadline relief. Biden tax proposals. Lessons from $2B tax evasion case. 2021 Business Tax Climate Index. A rough 4th quarter for the Pack in 1973.
October 20, 2020
Blog
Pelosi-Mnuchin COVID deal deadline tonight. IRS affirms daily sports betting as gambling. You can't buy away criminal tax probe. Open enrollment tips. Land Deal of the 19th Century.
October 20, 2020
Blog
Filing relief covers return due dates and estimated tax payment deadlines.
October 19, 2020
Blog
Crypto tax evasion is a criminal offense. Daily Fantasy sports is a wagering transaction. Tax increases looking more likely, but when? Refundable credits a key part of Democrats stimulus plan.
October 16, 2020
Blog
IRS updates Applicable Federal Rates (AFR): minimum interest rates required by IRS for gifts, loans & sales. Includes long-term tax-exempt rate for applying Section 382 to Net Operating Losses (NOLs) for ownership changes occuring in the month. Also …
October 16, 2020
Blog
California Governor signs new tax credit bill for small businesses impacted by COVID-19. IRS and DOJ announce largest ever tax charge against single individual. 2021 social security wage base announced.
October 15, 2020
Blog
Extensions expire today. How to file, why to file. PPP Concessions, but no movement. Cryptocurrency tax confusion. Many sales tax jurisdictions. FORTRAN lives!
October 14, 2020
Blog
Extended deadline day tomorrow. Senate to vote on PPP relief next week. IRS removes donations from QBI computation. 2020 OECD tax competitiveness index. Harold Godwinson's bad day.

Stay informed!