IRS Offers ‘Simplified’ Corporate Alternative Minimum Tax Calculation Method
The IRS issued new interim guidance for the corporate alternative minimum tax (CAMT) enacted nearly three years ago in the …
Reconciliation Bill Doesn’t Go Far Enough to Tackle ‘Care Crisis,’ Say Groups
Child care providers and advocates are celebrating a provision in the One Big Beautiful Bill Act (OBBBA, H.R. 1) that would …
Tax Court Again Uses Functional Test to Deem Partners Limited ‘In Name Only’
The Tax Court, following recent precedent, determined that three partnership members were not limited partners based on their day-to-day functions …
Audit Committee Chairs Expect Clear, Open Communications From Auditors–PCAOB Report
During discussions with external auditors, public company audit committee chairs focus significantly on factors affecting their relationships, such as communication, …
DOL Recovers Over $270K in Back Wages, Damages for 157 Workers
An investigation by the U.S. Department of Labor (DOL) led to the recovery of over $207,470 in back wages and damages for …
CPAs Concerned About SALT, Contingent Fee Provisions in Tax Reform Bill
As congressional Republicans move forward with a reconciliation bill that would extend and revise tax provisions, the American Institute of …
House Budget: Updated Cost, Distributional Estimates
Budget scorers and policy think tanks have weighed in on the budget reconciliation package’s expected impact on the federal deficit …
In Dispute Over Deceased Participant’s 401(k) Plan Benefits, Clear Plan Documents Fulfill Fiduciary Duty
LeBoeuf v. Entergy Corp., 2025 WL 1262414 (5th Cir. 2025) Available at https://www.ca5.uscourts.gov/opinions/unpub/24/24-30583.0.pdf Following a 401(k) plan participant’s death, his …
Vermont Enacts Omnibus Tax Legislation
By David Engel On May 21, 2025, Governor Phil Scott signed into law omnibus tax legislation that updates Vermont’s conformity …
Treasury, DOGE to Continue IRS Overhaul as Judge Blocks More Agency Downsizing
The head of the Treasury Department and a Department of Government Efficiency (DOGE) associate indicated the collaboration between the two …