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Tax Briefing(s)

The IRS has provided details clarifying the federal tax status involving special payments made by 21 states in 2022. Taxpayers in many states will not need to report these payments on their 2022 tax returns.


The IRS intends to change how it defines vans, sports utility vehicles (SUVs), pickup trucks and “other vehicles” for purposes of the Code Sec. 30D new clean vehicle credit. These changes are reflected in updated IRS Frequently Asked Questions (FAQs) for the new, previously owned and commercial clean vehicle credits.


The IRS established the program to allocate environmental justice solar and wind capacity limitation (Capacity Limitation) to qualified solar and wind facilities eligible for the Low-Income Communities Bonus Credit Program component of the energy investment credit.


The IRS announced a program to allocate $10 billion of credits for qualified investments in eligible qualifying advanced energy projects (the Code Sec. 48C(e) program). At least $4 billion of these credits may be allocated only to projects located in certain energy communities.


The IRS has released new rules and conditions for implementing the real estate developer alternative cost method. This is an optional safe harbor method of accounting for real estate developers to determine when common improvement costs may be included in the basis of individual units of real property in a real property development project held for sale to determine the gain or loss from sales of those units.


The IRS announced that taxpayers electronically filing their Form 1040-X, Amended U.S Individual Income Tax Return, will for the first time be able to select direct deposit for any resulting refund. 


The OECD/G20 Inclusive Framework released a package of technical and administrative guidance that achieves clarity on the global minimum tax on multinational corporations known as Pillar Two. Further, it provides critical protections for important tax incentives, including green tax credit incentives established in the Inflation Reduction Act. 


2021 Individual Tax Return Preparation Engagement Letter


  • TAX STRATEGIES FOR INDIVIDUALS AND FAMILIES
  • INVESTMENT PLANNING
  • TAX PLANNING FOR BUSINESS
  • PLANNING FOR THE FUTURE

  • TAX STRATEGIES FOR INDIVIDUALS AND FAMILIES
  • INVESTMENT PLANNING
  • TAX PLANNING FOR BUSINESS
  • PLANNING FOR THE FUTURE
  • THE CURRENT 2020 TAX CLIMATE
  • NATIVE MINIMUM TAX (AMT)
  • TAX CREDITS & DEDUCTIONS
  • EDUCATION STRATEGIES
  • ESTIMATED TAX PAYMENTS
  • TAXES FOR DOMESTIC HELP
  • CHILDREN’S TAXES
  • CHANGES TO EXEMPTIONS
  • SUPPORTING YOUR PARENTS
  • TAX STRATEGIES FOR HOMEOWNERS
  • IRAs FOR KIDS
  • TAXES & DIVORCE
  • MANAGING RECEIPT OF INCOME
  • YEAR END TAX PLANNING TIPS
  • CAPITAL GAINS & LOSSES
  • APPRECIATING INVESTMENTS
  • OTHER CONSIDERATIONs
  • PASSIVE ACTIVITIES
  • MUTUAL FUNDS
  • BONDS
  • REAL ESTATE
  • INVESTING IN SMALL BUSINESSES
  • THE CARES ACT: $2 TRILLION STIMULUS PACKAGE INCLUDES SMALL BUSINESS LOAN RELIEF
  • INVESTING IN SMALL BUSINESSES
  • EMPLOYER-PROVIDED BENEFITS
  • BUSINESS TAX CREDITS & DEDUCTIONS
  • CHOOSING THE BEST INVENTORY METHOD
  • BENEFITING FROM BUSINESS LOSSES
  • DEDUCTIONS FOR MEALS, ENTERTAIN- MENT, AND TRANSPORTATION COSTS
  • EMPLOYEE OR INDEPENDENT CONTRACTOR?
  • RETIREMENT STRATEGIES
  • ESTATE PLANNING

  • INTRODUCTION
  • 2020 MAY BE OUR LAST CHANCE TO TAKE ADVANTAGE OF THESE TRADITIONAL  BUSINESS TAX BREAKS 
  • HIGHLIGHTS OF SELECTED COVID-RELATED TAX PROVISIONS IMPACTING BUSINESSES
  • SELECTED TAX CHANGES INCLUDED IN OTHER RECENT LEGISLATION
  • TRADITIONAL YEAR-END TAX PLANNING TECHNIQUES  
  •  FINAL COMMENTS                                   

  • INTRODUCTION
  • 2020 MAY BE OUR LAST CHANCE TO TAKE ADVANTAGE OF THESE TRADITIONAL TAX BREAKS
  • HIGHLIGHTS OF RECENT LEGISLATIVE CHANGES
  • HIGHLIGHTS OF TRADITIONAL YEAR-END TAX PLANNING TECHNIQUES