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Entries by Alex Szarenski

IRS Updates Business Meals and Entertainment Guidance

Posted 6:45 PM by
On Feb. 21, the IRS released proposed regulations on the treatment of meals and entertainment expenses based on the modifications imposed when the Tax Cuts and Jobs Act (TCJA) was passed into law. The proposed regulations primarily serve to reinforce and clarify the rules previously established in the TCJA and IRS Notice 2018-76. This article addresses some of the key provisions and considers the impact on businesses.
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Retroactive Fuel Credit Extensions May Result in Refunds

Posted 6:15 PM by
On Dec. 20, 2019, the Further Consolidated Appropriations Act, 2020 (the “Act”) was passed into law. In part, the Act contains extensions for various fuel tax credits and incentives, including the following:
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Tax Reform: Major Changes to Meal and Entertainment Expenses

Posted 1:01 PM by
The Tax Cuts and Jobs Act (TCJA) largely eliminates the deduction for entertainment expenses. While there are a few unanswered questions (specifically how this provision affects meals), its effect is immediate. As a result, businesses should incorporate this change without delay.
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Tax Reform Is Here: Key Provisions Explained

Posted 7:00 PM by
In the most sweeping overhaul of the U.S. tax code in more than three decades, the tax reform bill has now been passed by both houses of Congress and was signed into law by President Trump this afternoon. These significant changes will require businesses and individuals to reassess their long-term tax strategies beginning with the 2018 tax year as well as consider immediate year-end tax planning strategies for the few remaining days of 2017.
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Tax Reform and Long-Term Planning: Top Tips for Individuals and Businesses

Posted 3:58 PM by
As Congress continues to push tax reform forward, it seems almost inevitable that widespread changes to the federal tax code will occur. These changes will not only require businesses and individuals to consider immediate year-end tax planning strategies, they also will require new considerations when planning for the future.
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Tax Reform and Year-End Planning: Top Tips for Individuals and Businesses

Posted 9:22 PM by
The U.S. House of Representatives and Senate have each passed a tax reform bill that could enact sweeping changes in U.S. tax law. Now is the time to consider how these changes could affect your taxes.
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White House Unveils Proposed Tax Plan

Posted 4:00 AM by
On Wednesday, April 26, Treasury Secretary Steven Mnuchin and Director of the National Economic Council Gary Cohn announced President Trump’s proposed tax plan
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Surface Transportation and Veterans Health Care Choice Improvement Act of 2015

Posted 12:00 PM by
On July 31, 2015, the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (the “Surface Transportation Act”) was signed into law. The Surface Transportation Act includes a wide variety of provisions.
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