Insights

By now you have probably read in the media about highlights of the recently-released Tax Cuts and Jobs Act (HR 1) as it generally affects individuals and businesses.

On November 2, 2017 the U.S. House of Representatives and House Ways and Means Committee issued a draft of its long-awaited tax reform legislation for individuals and businesses in the Tax Cuts and Jobs Act (HR 1).

After months of political deadlock, Governor Dannel Malloy signed into law a bi-partisan budget bill.

The IRS issued Notice 2017-64 announcing cost-of-living adjustments affecting dollar limitations for tax-qualified retirement plans and other retirement-related items for the 2018 tax year.

It is clear that there continues to be considerable debate in Washington over the future of estate tax.

Gone are the days when we heard the word “fishing” and looked forward to a day on the lake, when a “hack” was another name for a trick or shortcut that increases productivity and efficiency, or when the “web” referred to a spider’s handicraft in our basement.

The Office of Management and Budget (OMB) has updated guidance for the procurement grace period available to non-Federal entities under Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).

Now that the tax reform plan has been released in the “Unified Framework for Fixing Our Broken Tax Code,” we are presenting some of the key provisions in the Framework as they affect individuals and businesses.

A major shift has occurred in how the Internal Revenue Service (IRS) will handle partnership tax examinations in the future.