On July 14, 2022, California released Legal Ruling 2022-02 that now recharacterizes the gain resulting from the sale of partnership interest as ordinary income and therefore taxable by the state.…
read more
Published in conjunction with S2 Technology Solutions and Sax’s State and Local Tax (SALT) Practice To state the obvious, the business world has undergone a substantial change relating to reliance…
read more
The deadline to make the revised New York State (“NYS”) pass-through entity tax (“PTET”) election and remit estimated tax due is quickly approaching. Generally, the due date for the election…
read more
In today’s financial landscape, uncertainty is at the forefront of most people’s minds. This is ever so true when it comes to guidance related to convertible virtual currency. Generally, technical…
read more
The IRS is providing tax year 2021 Schedules K-2 and K-3 filing relief for certain domestic partnerships and S corporations. If a partnership or S corporation qualifies for this exception,…
read more
At Sax, we strive to assist our clients in ways that position them for long-term success. As we begin the 2022 tax season, there are important need-to-knows and helpful information…
read more
The Infrastructure Investment and Jobs Act (Infrastructure Act) ends the Employee Retention Credit (ERC) for wages paid after September 30, 2021 for many employers. Recovery startup businesses, however, may continue…
read more
Employers who took advantage of the CARES Act employer payroll tax deferral in 2020 are reminded that 50% of the deferred taxes must be paid no later than December 31,…
read more
In case you missed it, join Shivani Jain, leader of Tax at Sax along with special guest Shehan Chandrasekera from CoinTracker as they discuss the new proposed tax law changes…
read more
Throughout 2021, SAX has been warning of dramatic and substantial structural changes that will severely impact estate planning opportunities. The recently proposed budget reconciliation package based upon the President’s Build…
read more