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Due to the COVID-19 outbreak, the IRS has provided increased flexibility with respect to: 2020 mid-year elections under Internal Revenue Code (IRC) Section 125 cafeteria plan related to employer-sponsored health coverage, health Flexible Spending Arrangements (health FSAs), and dependent care assistance programs; and grace periods to apply unused amounts in…

The IRS has released proposed regulations clarifying that the following deductions allowed to an estate or non-grantor trust are not miscellaneous itemized deductions: Costs paid or incurred in connection with the administration of an estate or non-grantor trust that would not have been incurred if the property were not held…

This article is reproduced with permission from Spidell Publishing, Inc

For some time now, owners of small businesses have chosen to operate as California S Corps because of the included tax advantages

Changes made to Internal Revenue Code (IRC) Section 162(f) by the Tax Cuts and Jobs Act (TCJA) provide operational and definitional guidance on the deductibility of fines and penalties paid to governmental entities

The Treasury Department and the IRS have provided tax relief to certain individuals and businesses affected by travel disruptions arising from the coronavirus (COVID-19) emergency

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) has brought about many changes that taxpayers are sure to embrace

With historically low Applicable Federal Rates and weakened asset valuations, it’s time to take advantage of these conditions and transfer wealth

The London Interbank Offered Rate (LIBOR) is the mainstay interest rate benchmark in financial contracts entered into by organizations worldwide

We are here to help you navigate through the information and implementation during this extremely difficult time