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, ...

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 ...

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 ...

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, businesses that don’t pay corporate tax but pass on income to their owners’ personal income tax calculations, may soon be seeing more of the IRS. The agency ...

A field operations unit, announced last fall, has started work in the Internal Revenue Service's Large Business and International Division to streamline audits of pass-through entities. Processing ...

Financial advisors and their business clients can breathe a sigh of relief after new taxes on pass-through entities were rejected in the Senate’s version of the “One Big Beautiful Bill,” which passed ...

Pass-through business entities with research and development expenses would receive a tax credit under a bill being considered by state lawmakers. The legislature’s Commerce Committee will conduct a ...

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 ...