Tax Briefings
2024 Post-Filing Season Update
A comprehensive update covering key developments from the 2024 tax filing season.
(Proposed) Tax Relief for American Families and Workers Act of 2024
Analysis of the proposed tax relief legislation passed by the House in January 2024.
2023 Tax Year-in-Review
A year-end summary of significant tax changes and developments from 2023.
Consolidated Appropriations Act, 2023
Detailed briefing on the Consolidated Appropriations Act and its tax implications. (Available locally)
Recent Tax Headlines
Treasury Department's AI-Powered Fraud Detection Yields $375 Million Recovery
The Treasury's Office of Payment Integrity deployed AI-based fraud detection in FY2023, recovering over $375 million.
ERC Compliance Efforts Top $1 Billion in Six Months
The IRS announced that compliance efforts around erroneous Employee Retention Credit (ERC) claims have surpassed $1 billion.
IRS Provides Guidance on Lead Service Line Replacements
The IRS announced the federal income tax treatment of lead service line replacement programs under Announcement 2024-10.
IRS Releases Guidance on Form 1099-K
Updated guidance to help taxpayers and payment processors understand reporting thresholds for Form 1099-K (FS-2024-7).
FL — Commercial Rental Tax Rate Reduced to 2% Effective June 1, 2024
Florida reduced the sales tax rate on commercial real property rentals from 4.5% to 2% effective June 1, 2024.
NJ — Earned Income Tax Credit Overview
The NJ Treasury encourages eligible taxpayers to claim the state EITC — a refundable credit of up to significant amounts for 2023.
NY — Pass-Through Entity Tax Reporting on Resident Credit Form
New York clarified how pass-through entity tax payments should be reported on Form IT-112-R.