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A Privilege Tax for Those who Work from Home?

As the pandemic rages on, 56% of Americans have hunkered down with a comfortable work from home setup that rivals their office space, all the while saving

IRS Updates Guidance for Filing Delinquent International Information Return

Recently, The IRS updated the instructions for the “Delinquent International Information Return Submission Procedure” (DIIRSP). The DIIRSP

Treasury Releases Proposed and Final Foreign Tax Credit Regulations

The Foreign Tax Credit (FTC) is one U.S. taxpayers can claim on foreign source income to minimize double taxation. There are different types of credit

2020 Credit Available for Natural Gas Producers

Since tax year 2016, the marginal well credit (MWC) has created opportunities to reduce taxes for natural gas producers holding an operating interest in

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Consolidated Appropriations Act as it Relates to Individuals

At the end of December 2020, President Trump signed the Consolidated Appropriations Act (CCA). While much of the CCA is directed at businesses, there are

Learn How Employer-Provided Autos Can Benefit From IRS Notice 2021-7

Do you provide company-owned vehicles to your employees? Are you and/or your employees using the automobile lease valuation rule? As a result of the COVID-19

Large Declines Expected for 2020 PA Impact Fee Collections

In early January, the Pennsylvania Independent Fiscal Office (PA IFO) released its impact fee estimate for 2020. Total impact fee revenues are expected

New $67 User Fee for Estate Tax Closing Letters Proposed by IRS

The IRS issued Proposed Regulations (REG-114615-16) on December 31, 2020 that would establish a new user fee of $67 for authorized persons who wish to

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Meal and Beverage Expenses Fully Deductible for the Next Two Years

When President Trump signed into law the recently passed stimulus legislation known as the Consolidated Appropriations Act (Act), most discussion and concern

Oil & Gas New 1099 Reporting Requirement - Form 1099-NEC

Historically, Form 1099-MISC has been used to report miscellaneous income – which includes nonemployee compensation – to persons who perform

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