In February 2020, the IRS announced that it would step up efforts to contact high-income taxpayers (defined as earning $100,000 or more per year), who in prior years have failed
Continue Reading The IRS Announced a New Non-Filer Initiative Over a Year Ago – Now We See the Enforcement
tax
Congress Passes CARES Act: Overview of the Relief Available to Small and Other Business Concerns
On April 2, 2020, the Department of Treasury and the Small Business Administration (SBA) posted the Interim Final Rule implementing Sections 1102 and 1106 of the CARES Act in advance…
Continue Reading Congress Passes CARES Act: Overview of the Relief Available to Small and Other Business Concerns
What CFOs Need to Know about the State Sales Tax Ruling
The recent Supreme Court ruling allowing states to tax online sales could result in a disruption in the operations of portfolio companies owned by private equity firms. With little time…
Continue Reading What CFOs Need to Know about the State Sales Tax Ruling
U.S. Treasury Announces $7 Billion Allocation of New Markets Tax Credit
The United States Department of the Treasury’s Community Development Financial Institutions Fund (CDFI) has last week announced $7 billion in New Markets Tax Credit (NMTC) awards with the goal of…
Continue Reading U.S. Treasury Announces $7 Billion Allocation of New Markets Tax Credit
New Tax Implications for Israeli Citizens with Foreign Bank Accounts
On Aug. 1, 2016, the Israel Tax Authority announced that it has received information on over 8,000 Israeli clients with foreign bank accounts in Switzerland. The receipt of this list…
Continue Reading New Tax Implications for Israeli Citizens with Foreign Bank Accounts
GT’s Quick Guide to Section 338(h)(10) Elections
Section 338(h)(10) of the Internal Revenue Code can provide significant tax benefits to a buyer of 80% or more of a target corporation. A 338(h)(10) election allows a buyer of…
Continue Reading GT’s Quick Guide to Section 338(h)(10) Elections
What is a Section 83(b) Election?
One of the most common tax-related concepts that arises in discussions with employees in connection with the issuance of restricted stock is a Section 83(b) election. So, what exactly is…
Continue Reading What is a Section 83(b) Election?
New Tax-Debt Law to Influence US Citizens Residing Abroad
The highway funding bill recently signed by President Obama, is aimed at aiding the collection of tax debts. Any US citizen with a debt of more than 50 thousand dollars …
Continue Reading New Tax-Debt Law to Influence US Citizens Residing Abroad