2nd Circuit sides with government in limited partner tax dispute The definition of “limited partner” for purposes of the self-employment tax exclusion hinges on a partner’s management and control activities, …
Group says government is ignoring ‘constitutional elephant’ in Corporate Transparency Act dispute The National Small Business Association urged the Supreme Court to review the Corporate Transparency Act’s (CTA) constitutionality, arguing in a …
Multistate Monitor — State R&E conformity creates confusion, complexity for business The federal rules for deducting research and development costs are settling after changes under the One Big Beautiful Bill Act. …
LB&I chief shares priorities, provides workforce updates IRS Large Business and International (LB&I) Division Commissioner Mabeline Baldwin shared the division’s current priorities and how it’s adjusting to …
Bipartisan duo seek to ensure nonprofit status does not constitute ‘government handout’ A new bipartisan bill aims to ensure tax-exempt status does not equate to a federal government grant or subsidy. Proponents …
Multistate Monitor — As states decouple from OBBB, expert explains how to address now-incorrect tax estimates A tax pro explained how taxpayers can handle state tax underpayments resulting from retroactive changes after the One Big Beautiful …
PCAOB to Seek Public Input on Standard-Setting Agenda for First Time The Public Company Accounting Oversight Board (PCAOB) will, for the first time, issue a public consultation document to seek input on its …
Are Further Tax Changes Possible in Reconciliation 2.0? The likelihood of further Republican-backed tax law changes is in flux as GOP leaders pursue a second reconciliation bill — …
Tax Pro Delves Into Qualified Production Property Guidance The IRS’ recent guidance on the One Big Beautiful Bill Act’s (OBBB) depreciation deduction for qualified production property provides “at …