When tax-exempt or non-U.S. taxpayers invest in U.S. businesses, unwanted and unintended U.S. tax obligations can follow without careful planning. Blocker corporations have become a common strategy employed...
Obtaining a Phase I environmental site assessment (ESA) is essential to conducting environmental due diligence for commercial real estate transactions. The goal of a Phase I ESA is to evaluate readily...
Artificial intelligence (AI) tools and resources are inundating the news, social media, professional seminars, and inboxes. AI is part of every conversation across industries and professional services...
Do you need guidance in defending against claims brought under the recently overhauled California's Private Attorneys General Act (PAGA)? Read Private Attorneys General Act in California: Defending...
Confidently present your case in chief to the Trademark Trial and Appeal Board (TTAB) with this opening trial brief that an opposer/petitioner (plaintiff) may use in an opposition or cancellation proceeding...
Closely following the IRS’s announcement of 2024 inflation-adjusted limits for retirement plans (Notice 2023-75), the IRS also has announced its 2024 inflation-adjusted limits for health FSAs, qualified transportation fringes, income tax rates, and other indexed amounts under the IRC. Review the new limits here, as well as the updated qualified transportation fringe exclusion for pre-tax employee savings or nontaxable employer payments toward qualifying employee transportation costs. The revenue procedure also announces indexed limits for 2024 individual income tax rates, the standard deduction, the long-term capital gains rate, and other amounts.
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DID YOU KNOW? In its e-news for tax professionals, IRS says: “If your clients approach you for advice about participating in an abusive tax scheme, use the information outlined in the revised Publication 3995, Recognizing Illegal Tax Avoidance Schemes, to help them recognize and avoid fraudulent acts. Publication 3995 explains common tax avoidance schemes and provides instructions for reporting abusive tax schemes to the IRS Lead Development Center.”
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