On December 29, 2022, President Biden signed the Consolidated Appropriations Act, 2023 into law. It reached the President's desk upon passage in the house by a vote of 225 to 201 on December 23. This followed passage in the Senate on Decmeber 22 by a vote of 68 to 29. The heavily negotiated omnibus legislative [...]
The Inflation Reduction Act of 2022 represents the most significant legislation to combat climate change in our nation's history. It will drive investment and dynamic economic growth, create new opportunities for workers by supporting good-paying jobs, and lower costs for American families as we build a clean energy economy. The Inflation Reduction Act also promotes [...]
On September 23, 2022, the Ohio Department of Taxation published a list of Frequently Asked Questions and a draft tax form for the newly enacted pass-through entity election. The pass-through entity election was enacted into law earlier this year when Governor DeWine signed Senate Bill 246 and is Ohio’s workaround to the federal “SALT cap”, [...]
On April 27, 2022, the Internal Revenue Service updated its processes and procedures found in the Internal Revenue Manual for audits of Global High Wealth (GHW) individuals. Such individuals are defined to include those holding assets or having income in the tens of millions of dollars. The IRS utilizes employees comprising the GHW to conduct [...]
