The House of Representatives previously passed H.R. 1-119th Congress (2025-2026), titled the “One, Big, Beautiful Bill Act” (the “Act”), a budget bill that, among other things, addresses sunsetting provisions of the Tax Cuts...more
6/30/2025
/ Alternative Minimum Tax ,
Base Erosion and Anti-Abuse Tax (BEAT) ,
Budget Reconciliation ,
Business Income ,
Child Tax Credit ,
Corporate Taxes ,
Excise Tax ,
GILTI tax ,
Income Taxes ,
International Tax Issues ,
New Legislation ,
Over-Time ,
Pass-Through Entities ,
Proposed Legislation ,
SALT ,
Senate Finance Committee ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Policy ,
Tax Rates ,
Tax Reform ,
Taxation ,
Tipped Employees ,
U.S. Treasury
The approval of the House v. NCAA settlement marks a watershed moment in college athletics. In addition to $2.8 billion in back damages to former athletes unable to capitalize on the sale of their name, image, and likeness...more
6/23/2025
/ Audits ,
College Athletes ,
Income Taxes ,
Independent Contractors ,
NCAA ,
Reporting Requirements ,
Settlement Agreements ,
State Taxes ,
Student Athletes ,
Tax Liability ,
Tax Planning
On May 22, 2025, the House of Representatives passed H.R. 1-119th Congress (2025-2026), titled as the “One, Big, Beautiful Bill Act” (the “Act”), a budget bill that, among other things, addresses soon to sunset provisions of...more
6/4/2025
/ Business Taxes ,
Corporate Taxes ,
Income Taxes ,
International Tax Issues ,
New Legislation ,
Proposed Legislation ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Planning ,
Tax Reform ,
Taxation
Just before the close of the 446th legislative session, the Maryland General Assembly passed and sent to Governor Moore HB 352/SB 321, the Budget Reconciliation and Financing Act of 2025 (the “BRFA”). The BRFA, which Gov....more
On March 21, 2025, the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the U.S. Department of the Treasury, issued an interim final rule (the “Interim Rule”) under the Corporate Transparency Act (“CTA”) whereby...more
On March 2, 2025, the U.S. Department of the Treasury t (“Treasury”) announced that it will not impose penalties, fines, or pursue enforcement actions against U.S. companies, citizens, or their beneficial owners for failing...more
On February 17, 2025, the U.S. District Court for the Eastern District of Texas lifted the last remaining nationwide injunction against enforcement of the Corporate Transparency Act (CTA) previously issued in Smith v. US...more
2/21/2025
/ Beneficial Owner ,
Compliance ,
Corporate Transparency Act ,
Enforcement ,
Enforcement Actions ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
New Legislation ,
Penalties ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements
The ongoing legal saga in the federal courts surrounding the Corporate Transparency Act (CTA) (31 U.S.C. § 5336) has reversed course, yet again. On December 26, 2024, the United States Court of Appeals for the Fifth...more
On December 3, 2024, the U.S. District Court for the Eastern District of Texas, Texas Top Cop Shop, Inc. v. Merrick Garland (Civil Action No. 4:24-CV-478), issued a memorandum opinion and order granting a nationwide...more
The IRS has recently been urging healthcare entities, particularly those involving physicians and private investors, to seek private letter rulings (PLRs) to clarify the tax implications of their ownership structures. This...more
11/13/2024
/ Anti-Kickback Statute ,
Compliance ,
Consolidated Tax Returns ,
Corporate Practice of Medicine ,
Health Care Providers ,
Healthcare Facilities ,
Intercompany Transactions ,
Internal Revenue Code (IRC) ,
IRS ,
Management Companies ,
Physicians ,
Private Letter Rulings ,
Professional Corporation
In many ways, the labor market is as competitive as ever. Businesses continue to explore compensation packages, in addition to ordinary salary, that will help them attract, hire and retain talent. One method of compensation...more
4/2/2024
/ Capital Gains ,
Deferred Compensation ,
General-Business ,
IRS ,
Ownership Interest ,
Partnership Agreements ,
Partnerships ,
Pass-Through Entities ,
Profits ,
Profits Interests ,
Self Employed ,
Tax Cuts and Jobs Act ,
Tax Reform