Tax & Benefits Blog

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Public Beneficial Ownership Disclosure Under N.Y. LLC Transparency Act

Introduction. On January 9, 2023, New York State (“State”) Senate introduced the New York LLC Transparency Act, S. 995-B (the “Act”)

Jul 11, 2023

Final FinCEN Beneficial Ownership Reporting Rules Pose Compliance Issues for LLCs

On September 29, 2022, the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the United States Department of Treasury...

Jan 12, 2023

Corporate Tax Proposals in House Ways and Means Committee Summary

Introduction; Summary of Proposed Tax Reforms. On September 13, 2021, the Ways and Means Committee of the United States House of...

Sep 13, 2021

FinCEN Compliance with Corporate Transparency Act of 2020

Introduction. On January 1, 2021, the Corporate Transparency Act of 2020 (“CTA”) was enacted into law as part of H.R. 6395, the National...

Aug 11, 2021

Update - Suspension of IRS Form 990 Schedule B Disclosure Rules by NYS AG

On July 29, 2021, the Office of the New York State (NYS) Attorney General (AG), Charities Bureau announced suspension of the IRS Form 990...

Aug 2, 2021

U.S.-Swiss Tax Treaty Benefits for Dividend Payments to IRAs Under the 2021 CAA

Introduction. On June 7, 2021, the IRS published in Announcement 2021-11, 2021-23 I.R.B. 1196 the new Competent Authority Arrangement...

Jul 29, 2021

Schedule B Contributor Disclosure by Charities After Americans for Prosperity Foundation v. Bonta

Introduction. After more than a decade of litigation, the California Attorney General's ("AG’s") IRS Form 990, Schedule B disclosure...

Jul 12, 2021

COBRA Premium Assistance Requirements for Exempt Employers

On April 7, 2021, the United States Department of Labor (“DOL”) issued guidance interpreting the premium assistance requirements for...

Jun 7, 2021

IRS Confirms Temporary Full Deduction for Employee Virtual Business Meals

On April 8, 2021, the IRS issued Notice 2021-25 (the "Notice") confirming availability of a temporary 100-percent deduction under section...

Apr 8, 2021

Compliance Items for Foreign Investors Under the Corporate Transparency Act of 2020

Introduction. On January 1, 2021, the United States Senate passed H.R. 6395, the National Defense Authorization Act, 2021 (“NDAA”) over...

Jan 6, 2021

Full Deductibility of Business Meals for Employee Virtual Events Under H.R. 133

On December 21, 2020, Congress released the text of, and subsequently voted to approve the Consolidated Appropriations Act, 2021 (the...

Dec 21, 2020

Payroll Tax Deferral Under Notice 2020-65, FFCRA and CARES Act

Introduction On August 8, 2020, the President of the United States issued an executive order, 85 Fed. Reg. 49,857 (Aug. 13, 2020)...

Sep 3, 2020

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