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Remote work tax: Employer compensation considerations

Remote work tax: Employer compensation considerations

Employers must set compensation policies for remote workers taking into account federal and state tax laws and state legal requirements.
Liability assumption in M&A: Tax Court addresses income and expense

Liability assumption in M&A: Tax Court addresses income and expense

Deductions deferred despite income inclusion for contingent compensation liability assumption in the year of the asset sale.
Senate Finance releases Build Back Better text

Senate Finance releases Build Back Better text

Senate Finance Committee Build Back Better language largely leaves House Bill unchanged. SALT language omitted as well as billionaires' tax.
IRS releases guidance on Q4 removal of employee retention credit

IRS releases guidance on Q4 removal of employee retention credit

Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021.
IRS clarifies temporary deductibility of per diem meal expenses

IRS clarifies temporary deductibility of per diem meal expenses

The IRS issued Notice 2021-63, clarifying previous guidance pertaining to the deductibility of food and beverages provided by a restaurant.
House passes infrastructure legislation; sends bill to President Biden

House passes infrastructure legislation; sends bill to President Biden

Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week.
IRS releases 2022 retirement plan limitations

IRS releases 2022 retirement plan limitations

The IRS has released its annual cost-of-living adjustments for retirement plan limits, effective Jan. 1, 2022.