Tax Updates

Year-end payroll reporting for 2024 is right around the corner.  To assist you in preparing the items your payroll provider will need to complete your payroll tax returns, we have…

On December 3, 2024, the United States District Court for the Eastern District of Texas issued a preliminary injunction against the Corporate Transparency Act (CTA) and its implementing regulations. The…

As of October 2024, the IRS is ending automatic penalties for late-filed Form 3520’s in relation to foreign gifts and bequests.  This is not an all-encompassing relief for the form,…

The Massachusetts Department of Revenue (“MA DOR”) will waive most penalties for taxpayers who participate in the amnesty program. Amnesty Requests can be processed through the MA DOR Amnesty information…

With Q4 fast approaching, we want to remind you that the Corporate Transparency Act expanded anti-money laundering laws and created new reporting requirements for certain companies doing business in the…

New Jersey Governor Phil Murphy has recently signed various tax bills as part of the annual budget process, including the imposition of a 2.5% corporate transit fee. 2.5% Corporate Transit…

By Senior Tax Manager, Samantha Guis The chatter and discussion around the Corporate Transparency Act has dominated several sectors since it became effective on January 1, 2024.  Alerts, articles, and…

On January 16, 2024, the Senate Finance Chair Ron Wyden (D) and House Ways & Means Chair Jason Smith (R) introduced the Tax Relief for American Families and Workers Act…