On 10/22/24, the IRS announced that is has officially commenced operations of the newly established pass-through field operations unit within its Large Business and International (LB&I) division, ...

Tax affecting the earnings of pass-through entities remains one of the thorniest valuation issues: There’s no clear guidance ...

What Congresses gives with one hand, it often takes away with the other and that is the case with the “Big, Beautiful Bill” when it comes to advisors who use a pass-through entity model. On the plus ...

SALT deduction cap temporarily raised from $10,000 to $40,000. PTETs allow businesses to bypass federal deduction limits. OBBBA permanently instates the 20% qualified business income deduction. Tax ...

Clients involved in pass-through entities may soon see more of the IRS. The agency plans to establish a special area to focus on large or complex pass-through entities, promising to hire more than ...

Forbes contributors publish independent expert analyses and insights. I cover changes and new developments in the federal tax law. Oct 09, 2024, 08:00am EDT Oct 28, 2024, 09:15am EDT With the ...

The Senate made adjustments in the text of the massive One Big Beautiful Bill to preserve the state and local tax deduction for pass-through entities such as accounting firms and law firms, ...

With the fate of many expiring provisions of the Tax Cuts and Jobs Act hinging on this year's election, one particularly controversial deduction for certain business owners is in flux. Backers argue ...

The American Institute of CPAs is asking accountants to reach out to their congressional representatives and protest the proposed elimination of the ability of pass-through entities such as accounting ...

If you’re exploring different ways to structure your business, you may have come across something called a flow-through or pass-through entity. A flow-through entity is a business in which income is ...