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Category: Tax Planning

IRS Issues Rev. Proc. 2022-19 to Provide Relief for S Corporations and their Shareholders

October 11, 2022 Business Entities and Transactions

The IRS issued Rev. Proc. 2022-19, which provides simplified procedures for S corporations and their shareholders to resolve six frequently-encountered issues. For these issues, Rev. Proc. 2022-19 allows S corporations and their shareholders to obtain relief without requesting a private letter ruling (PLR). The IRS identified these issues as not…

Tax Update 2022

March 3, 2022 News

Last year’s proposed tax changes in the Build Back Better Act were full of sound and fury but ultimately no major tax legislation was passed. While the revised Build Back Better Act generally removed the estate and gift tax changes and many of the individual and corporate income tax hikes,…

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