Author: Daniel F. Laughlin
On Sunday, August 7, 2022, the United States Senate passed The Inflation Reduction Act of 2022 (the "Act") in a 51 - 50 vote with Vice President Harris providing the tie-breaking vote. The Hou ...
Author: Matthew T. Fuller
On Sunday May 30th, the Illinois General Assembly passed Senate Bill 2531 which would provide owners of a partnership or S corporation with a workaround to the federal $10,000 state and local t ...
Author: Charles F. Schultz III
On Friday May 28th, President Biden’s administration released its proposed budget for fiscal year 2022. As part of the release, the administration also published the General Explanations ...
Authors: Michael R. Pearson, Scott W. Simpson and Jack Millhouse
COVID-19 has presented a host of challenges for individuals and businesses on a global level. Congress and the IRS have attempted to mitigate the impact ...
Authors: Michael R. Pearson, Scott W. Simpson and Jack Millhouse
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act, H.R. 748 (“CARES Act”) was signed into law. The CARES Act provides for ro ...
Authors: Michael R. Pearson, Scott W. Simpson and Jack Millhouse
Section 863 - A Very Brief History
Prior to tax reform, many multinational corporations relied upon Section 863(b) to provide “50/50” income sour ...
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