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Federal Court Case Could Upend Cannabis Tax Treatment Under 280E

A landmark case before the U.S. Court of Appeals for the First Circuit could fundamentally alter how cannabis businesses are taxed under federal law....

IRS Proposal to Slash Third-Party Notice Period Draws Criticism

In a move that could significantly affect how tax practitioners manage IRS information requests, National Taxpayer Advocate Erin Collins has voiced...

Trump and Taxes: What a New Administration May Bring

Regardless of your position on the election results this week, the important component for tax practitioners is the potential for tax law changes...

IRS Introduces Draft Form 7217: Implications for Partnership Distributions

The Internal Revenue Service (IRS) has unveiled draft Form 7217, "Partner's Report of Property Distributed by a Partnership," set for implementation...

Changes Coming to Individual Estimated Tax Payments

The current system of quarterly individual estimated tax payments poses significant challenges for taxpayers, particularly those in the gig economy....

Limited Partners Can No Longer Avoid Self Employment Tax

The Tax Court's recent ruling in Soroban Capital Partners has significant implications for determining whether a limited partner's distributive share...

AICPA Says Supreme Court Decisions to Have Major Tax Impacts

Recent Supreme Court decisions have sent shockwaves through the accounting profession, particularly in the realm of tax law. These rulings, which...

Remote Worker Classification: A Guide for Tax Professionals

Federal law changes this year have shed new light on employee and contractor classifications. Employers need to take a close look at how employees...

The Fate of a Finished Filing Season Still in Limbo

One significant concern is the Corporate Transparency Act, which has faced legal challenges and caused confusion among small businesses regarding...

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