Tax Topics

The IRS announced that it has enhanced its Individual Online Account tool by adding access to key tax documents, including Form W-2, Wage and Tax Statement, and Form 1095-A, Health Insurance Marketplace Statement, for tax years 2023 and 2024. However, one key limitation remains: state tax information is not yet available on Form W-2s in […]

On March 26, 2025, the Financial Crimes Enforcement Network (FinCEN) published an interim final rule in the Federal Register that significantly narrows the scope of the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). Most notably, domestic entities are no longer required to file BOI reports. The definition of a “reporting […]

In CF Headquarters Corporation v. Commissioner, 164 T.C. No. 5 (2025), the Tax Court ruled that a financial services firm must include in gross income state grant proceeds it received following the September 11, 2001, terrorist attacks. The taxpayer argued that the funds provided by New York State as part of an economic recovery program […]

The IRS recently announced important changes to tax brackets, standard deductions, and retirement contribution limits for 2025. These adjustments, driven by inflation, impact your tax planning and savings strategies. Whether you’re proactively optimizing your strategy or already facing an IRS challenge, our tax attorneys can help. We focus on resolving IRS tax controversies and ensuring […]

Retirement accounts can be an integral part of wealth accumulation and estate planning. In this blog series, we consider the issues in Australian superannuation (retirement) accounts. Many Australians live in the US on E-3, O-1, and EB-2 visas, or as U.S. green card holders, or citizens. These U.S.-based Australians, have likely, accumulated retirement benefits in […]

Peter Palsen, International Tax Professional In the 2018 book Red Card – How the U.S. Blew the Whistle on the World’s Biggest Sports Scandal, author Ken Bensinger spends 368 pages discussing how the Internal Revenue Services (IRS), Treasury Financial Crimes Enforcement Network (FinCEN) and the Federal Bureau of Investigation (FBI) collectively carried out a cross-border, […]

Eli Noff, Esq., Partner On December 13, 2019, the Internal Revenue Service (IRS) released proposed regulations which provide guidance for businesses and individuals regarding the tax treatment of charitable fund donations made in exchange for state and local tax (SALT) credits. Additionally, the proposed regulations provided guidance regarding the application of the “quid pro quo” […]

Whether a worker is properly classified as an employee or as an independent contractor depends upon the facts and circumstances. Generally, the determination is made under common law tests considering the right to control and direct the individual performing services. However, in some factual situations, the determination of the proper worker classification status may not […]

The below comparison outlines the “Tax Cuts and Jobs Act” passed by the House of Representatives on November 16 and the Senate on December 2. Since the two plans differ, they will now be sent to a conference committee where negotiators from both chambers will create a unified bill. After, both parties must approve the […]

Rebecca Sheppard, Esq., Partner On August 29, 2018, in response to South Dakota v. Wayfair,the Maryland General Assembly’s Joint Committee on Administrative, Executive, and Legislative Review (AELR) approved the Comptroller of Maryland’s emergency regulations imposing economic nexus standards to require remote vendors lacking Maryland physical presence to collect Maryland sales tax on in-state sales. Wayfair […]