In the final day of the 2020 session, the Iowa legislature passed a bill that enacted several changes to Iowa tax laws. This post addresses several miscellaneous changes made to the tax laws that are effective immediately....more
This update covers the proposed Treasury regulations associated with the new IRS Code 199A as it relates to estates, trusts, and beneficiaries. An overview of Section 199A can be found here....more
Individuals who are “seriously delinquent” on their taxes may not be able to obtain or renew a passport under a new law signed December 4, 2015. The provision is part of the Fixing America’s Surface Transportation Act, aimed...more
Football season is just around the corner. In case you missed it, the National Football League (NFL) announced earlier this year it decided to voluntarily end its tax-exempt status. Why did the NFL do this and what does it...more
In December 2014, the Achieving a Better Life Experience (ABLE) Act was passed by the US Senate and House and approved by the President. The ABLE Act will amend Section 529 of the Internal Revenue Code to create a tax-free...more
Section 6033(j)(1) of the Internal Revenue Code automatically revokes the tax-exempt status of an organization for failure to file the required annual return (Form 990, Form 990-EZ, or Form 990-PF) for three consecutive...more