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Latest Tax Alerts

Check out the latest tax alert section of our website, full of links and articles for professional and personal tax news. Read More

Client News

Founder of Rethink, Matt Jozwiak, to make free or low-cost meals for New Yorkers in Need ...
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Uncle Paul’s Pizza Offering Medical Workers Free Meals For 2 Weeks ... Read More

ACIPA Asks for More QBI Deduction Guidance

The American Institute of CPAs (AICPA) has requested additional guidance ... Read More

Calculation of “Average Income” Minimum Set Aside Test for Low Income Housing Credit Explained

Taxpayers claiming the low-income ... Read More

Final Covered Asset Acquisition Rules Adopted

The Treasury and IRS have adopted as final the 2016 proposed regulations ... Read More

Practitioners’ Corner Wolters Kluwer Interviews TCPI Symposium Experts on Current and Future State of Tax Policy

Tax reform legislation widely known as the Tax Cuts and ... Read More

Reporting Relief for U.S. Individuals' Transactions With Certain Foreign Trusts

The IRS has issued guidance that: exempts certain U.S. citizens and residents ... Read More

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Due Date for Federal Income Tax Payments Extended to July 15

By: Thomas Zanata, CPA, Tax Manager


Thomas Zanata, CPA, Tax ManagerThe Treasury Department and IRS have extended the due date for the payment of federal income taxes otherwise due on April 15, 2020, until July 15, 2020, as a result of the ongoing coronavirus (COVID-19) emergency. The extension is available to all taxpayers, and is automatic. Taxpayers do not need to file any additional forms or contact the IRS to qualify for the extension. The relief only applies to the ... Read More

HSA High-Deductible Health Plans Can Cover Coronavirus Costs

By: Donald Sager, CPA, Partner


Wayne Naegele, Senior PartnerThe IRS has provided emergency relief for health savings accounts (HSAs) and COVID-19 health plans costs. Under this relief, health plans that otherwise qualify as high-deductible health plans (HDHPs) will not lose that status merely because they cover the cost of testing for or treatment of COVID-19 before plan deductibles have been met. In addition, any vaccination costs will count as preventive care and can be paid for by an HDHP.
HSAs and HDHPs ... Read More

2021 Budget Outlines Administration Priorities for Extending Tax Cuts, Increased IRS Funding

By: Lisa Varela, Senior Tax Manager


Lisa Varela, Senior Tax ManagerOn February 11, the White House released President Donald Trump’s fiscal year (FY) 2021 budget proposal, which outlines his administration’s priorities for extending certain tax cuts and increasing IRS funding. Treasury Secretary Steven Mnuchin testified before the Senate Finance Committee (SFC) on February 12 regarding the FY 2021 budget proposal.
Extension of TCJA’s Individual Tax Cuts ... Read More


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