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 the Expanded 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 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.

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.