IRS Waiving Late Filing Penalties

The IRS announced yesterday its waiving $1.2 billion in late-filing penalties for income tax returns, letting about 1.6 million taxpayers off the hook. What is behind this decision from an agency not known for forgiveness? From our perspective, the reason is less about caring for taxpayers and more about an organizational disaster. The IRS has […]

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When Can You Use E-Signatures on IRS Forms?

In the past two years, many traditional processes in the world of taxes and the law have been transformed by necessity, using digital signatures, or e-signatures, for many financial and legal documents. With many offices and courts re-opening and returning to pre-COVID processes, the IRS has recently reported that it will continue to allow taxpayers […]

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IRS and Treasury Announce Intent to Issue Regulations: State and Local Income Taxes Will be Deductible for Businesses Structured as Passthrough Entities

Anyone who owns rental property and has not yet re-structured ownership into a passthrough entity now has another reason to make this change. We encourage you to call our office to get this done before year’s end to make the most out of this opportunity from the Treasury and the IRS. The $10,000 limit on […]

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