Tax Law News and Insights

Although the November 3rd general election is months away, the ballot for the presidential race has essentially been set for some time, with former Vice President Joe Biden and President Donald Trump each poised to become the official nominee of his respective party this August. While the economic impact of the...

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On July 14, 2020, the IRS and Treasury released proposed redesigned tax Form 1065, U.S. Return of Partnership Income.  The 2017 Tax Cuts and Jobs Act added to the already messy process of partnership tax filing by creating a new class of foreign income (global intangible low-taxed income, or GILTI) and...

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In response to the ongoing nature of the COVID-19 pandemic, on July 14, 2020, the Internal Revenue Service (IRS) issued Notice 2020-56, which provides additional time for tax-exempt hospital organizations to satisfy the Community Health Needs Assessment (CHNA) requirements. Specifically, the deadline for conducting a CHNA and adopting an implementation strategy...

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