On June 21, 2018, in a narrow 5 to 4 decision, the United States Supreme Court in South Dakota v. Wayfair, Inc. issued a decision which opens the door for states to require out-of-state merchants to collect and remit sales tax on internet sales.  The issue of sales tax on internet sales is an issue...Read More

Recently enacted changes which may affect your business regarding IRS audits of partnerships and limited liability companies (LLCs) have gone into effect for tax years beginning on or after January 1, 2018.  Under the new Rules regarding partnership adjustments and audits, the IRS is no longer required to proceed against an individual partner but instead...Read More

Employers have a legal obligation to provide employees a Form W-2 stating the employee’s wages and withholdings for the year by January 31 of the following year. This obligation remains even when an employer has closed its doors and ceased operating. Employees should confirm that their employer (including former employers) have their most current contact information so...Read More

The IRS is expected to issue regulations this fall that will substantially limit the use of family limited partnerships and family limited liability companies.  These entities are often used as a method to gift assets to children and other family members at discounted values, often as much as 40%. It appears that the regulations will...Read More