President Signs Omnibus Bill: Secure 2.0 Act of 2022
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 [...]
4 Ways the Inflation Reduction Act’s Tax Incentives Will Support an Equitable Clean Energy Economy
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 [...]
Ohio Department of Taxation Updates Guidance on Pass-Through Entity Election
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 [...]
The IRS is Targeting High Income Taxpayers
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 [...]
Common Tax Scams and Tips to Help Taxpayers Avoid Them
In recent years, tax schemes and scams have been on the rise. Con artists work year-round which means taxpayers must remain vigilant to avoid being victimized. Here are some tips to help people recognize [...]
Can Congress Tax the “Wealth” by Deeming it Income?
Reference to "Can Congress Tax the “Wealth” of Charles and Kathleen Moore by Deeming it Income? A challenge to a 2017 law could shut the door to Elizabeth Warren’s far more ambitious levy." The [...]
PPP2 Loan Forgiveness Portal
After the confusion of the first Paycheck Protection Program (PPP) Loan Forgiveness process, there is hope! The Small Business Administration (SBA) announced a new portal for borrowers of $150,000 or less in the second [...]
Indiana Surplus Refund
Hoosiers will see a total refund worth $545.3M when they file their 2021 state tax returns next year. Per Indiana state law, if Indiana’s reserves are 12.5% of general fund appropriations or higher (excluding [...]
Clean Energy for America Act (CEAA) – Tax Reform
The Joint Committee on Taxation released on June 17, 2021, its Technical Explanation of the Clean Energy for America Act (CEAA) which passed the Senate Committee of Finance on May 26, 2021. Here are [...]
Advanced Child Tax Credit Payments to Begin July 15, 2021
The American Rescue Plan (“ARPA”) raised the maximum child tax credit in 2021 to $3,600 for each qualifying child under the age of 6 and $3,000 for each qualifying child between the ages of 6 [...]