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A Few Tips as the IRS Opens the 2020 Tax Filing Season

Be tax ready: Review pandemic-related changes Last year’s sweeping set of tax changes not only affected individuals and their families but may also affect the tax return they’re filing this year. A new IRS Fact Sheet explains what taxpayers need to know to file a complete and accurate tax return.

Rules on Carried Partnership Interest

The IRS has issued final regulations that provide guidance related to “carried interests” in a partnership. The final regulations amend existing regulations on holding periods to clarify the holding period of a partner’s interest in a partnership that includes in whole or in part an applicable partnership interest and/or a

Regulations Clarify Rules Related to HRAs

The IRS has released final regulations clarifying the application of the employer shared responsibility provisions and certain nondiscrimination rules to health reimbursement arrangements (HRAs) and other account-based group health plans integrated with individual health insurance coverage or Medicare and to provide certain safe harbors with respect to the application of

Exclusion for Employer Payments of Student Loans

The Consolidated Appropriations Act, 2021 Act provides tax relief and tax incentives for individuals and businesses alike. Included in the numerous tax provisions is a five-year extension of the exclusion of up to $5,250 from income for payments of an employee’s education loans. Normally, employee benefits provided under an employer’s