Legal Updates for Taxes

Deducting Your State Income Taxes with a Pass-Through Entity

June 23, 2022. Many states have adopted an optional pass-through entity (PTE) tax that effectively enables some business owners to deduct state income tax on their business income without limit.

New Tax Law Extends Obamacare Premium Tax Credit Through 2025

August 16, 2022. The Inflation Reduction Act extends the temporary exception to the 400% of federal poverty level cap for premium tax credits through 2025.

New Tax Reporting Rules Start in 2022 for Payments by PayPal and Other Third-Party Payment Providers

In the past, the IRS often didn't know about payments made through PayPal or similar services. But in 2002, new tax reporting rules take effect.

IRS Extends 2020 Income Tax Filing and Payment Deadline

The individual tax filing deadline has been extended from April 15, 2021, to May 17, 2021.

IRS Delays Start of 2020 Tax Filing Season

To help process economic impact payments, the filing start date is delayed by two weeks to February 12.

Stimulus Package Relief for Small Businesses

Learn about the important provisions included in the new stimulus bill (Consolidated Appropriations Act of 2021) that are designed to help small businesses.

IRS Eases Enforcement Efforts During Coronavirus Pandemic

March 26, 2021. The Internal Revenue Service has unveiled its People First Initiative—a sweeping series of steps designed to make life easier on people facing tax issues during the coronavirus (COVID-19) crisis.

IRS Announces Standard Mileage Rate for 2020

January 01, 2020. The Internal Revenue Service announced the 2020 optional standard mileage rate for calculating the deductible costs of operating an automobile for business purposes.

Social Security and SSI Disability Benefit Amounts and COLA for 2020

January 1, 2020. The Social Security Administration announced a 1.6% increase in Social Security and Supplemental Security Income (SSI) benefits for 2020.

California Passes Gig-Worker Law, Assembly Bill No. 5 (AB5)

September 10, 2019. The California Legislature has passed a new law that dramatically changes the rules employers must use to determine whether workers are employees or independent contractors (IC).

Do Landlords Need to File Form 1099-NEC?

January 18, 2019. All landlords should file Form 1099-MISC to qualify for important tax benefits including the 20% pass-through deduction.

Landlords Must Be In Business to Claim the 20% Pass-Through Tax Deduction

January 18, 2019. Learn about the new IRS safe harbor for landlords trying to establish that their rental activity is a business activity.

IRS Announces Standard Mileage Rate for 2019

January 01, 2019. The Internal Revenue Service announced the 2019 optional standard mileage rate for calculating the deductible costs of operating an automobile for business purposes.

IRS Clarifies 50% Business Meal Deduction Under TCJA

October 8, 2018. The IRS has clarified that the tax deduction for business-related meals has not been eliminated by the TCJA.

Supreme Court Case Changes Internet Sales Tax Rules

June 21, 2018. In its South Dakota v. Wayfair Inc. decision, the United States Supreme Court fundamentally changed the rules for collection of sales tax by Internet-based retailers.

Social Security and SSI Disability Benefit Amounts and COLA for 2018

January 1, 2018. The Social Security Administration has announced a 2% increase in Social Security and Supplemental Security Income (SSI) benefits.