by Kim Helgerson | Sep 4, 2024 | News, Publications
IRS Expands Processing of ERC Claims, Announces 5 New Warning Signs of Incorrect Claims Last fall, the Internal Revenue Service (IRS) instituted a moratorium on processing Employee Retention Credit (ERC) claims filed after September 14, 2023. However, on August 8,...
by Melanie Krings | Aug 21, 2024 | News, Publications
On August 20, 2024, a Texas federal district court ruled that the Federal Trade Commission’s (FTC) Final Rule banning the use of non-compete agreements was unlawful, and therefore should not be enforced nationwide as planned. The Final Rule, which had been facing...
by Kim Helgerson | Jul 22, 2024 | News, Publications
On June 17, the IRS announced proposed guidance aimed at limiting “basis-shifting” in transactions between related-party partnerships. Such targeted basis-shifting transactions are those that use the flexibility of the partnership rules under the Internal...
by Kim Helgerson | Jul 16, 2024 | News, Publications
BACKGROUND Under the federal Corporate Transparency Act (“CTA”) companies that qualify as “reporting companies” are required to report certain information about their “beneficial owners” to the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the United...
by Melanie Krings | Jul 2, 2024 | News, Publications
On Friday, June 28, 2024, the United States Supreme Court overturned a forty-year-old doctrine that lawyers commonly call “Chevron deference.” Loper Bright Enterprise. V. Raimondo, No. 22,451; Relentless, Inc. v. Department of Commerce, No. 22-1219. The Court put...
by Melanie Krings | Jun 27, 2024 | News, Publications
In a recently-released update regarding the current status of the Employee Retention Credit (ERC) program, the Internal Revenue Service (IRS) announced plans to deny tens of thousands of improper, high-risk ERC claims, while conducting additional analysis and...
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