Competing House and Senate bills have the potential to reshape how the IRS taxes tips and overtime wages. The Senate recently passed the “No Tax on Tips Act” while the House budget reconciliation bill proposes deductions for...more
5/29/2025
/ Fair Labor Standards Act (FLSA) ,
Income Taxes ,
New Legislation ,
Over-Time ,
Payroll Taxes ,
Proposed Legislation ,
Reporting Requirements ,
Tax Credits ,
Tax Deductions ,
Tax Reform ,
Tip Credit ,
Tipped Employees
An installment sale occurs when property is disposed of and at least one payment is received after the tax year of the disposition. See I.R.C. § 453. Under a standard installment sale, the buyer makes scheduled payments to...more
In appeals, the general rule is that litigants cannot appeal an interlocutory order until a final judgment is entered. But in North Carolina, a major statutory exception to the general rule exists: When the trial court’s...more
Most appraisers don’t go to prison, and those that do, don’t go for appraising. So it’s no wonder why much has been made of the one-year prison sentence recently handed down to Walter Roberts II, an appraiser who pleaded...more