During 2024, the U.S. Department of the Treasury and the IRS issued important tax guidance for U.S. corporations — including long-awaited proposed regulations on the corporate alternative minimum tax and final procedural regulations on the stock repurchase excise tax. These and other key tax developments corporate taxpayers should consider when planning for 2024 and beyond […]
Treasury Tax Review Treasury groups are facing unprecedented challenges from volatile market conditions. Uncertain interest rates, volatile credit markets, currency fluctuations, and strained commodity markets have all been affecting financing, investing, and cash management and have caused treasurers to reevaluate how and when to hedge various risks. These activities will generally have significant tax consequences […]
Credit For Increasing Research Activities: Proposed Changes to Form 6765 The IRS announced the release of a revised draft of Form 6765, Credit for Increasing Research Activities, on June 21, 2024, that reflects feedback from external stakeholders. This follows the IRS’s efforts to tighten documentation requirements for claiming the research credit. In September 2023, the […]
Corporations and pass-through entities may have opportunities to effectively improve their federal income tax positions and, in turn, enhance their cash tax savings by strategically adopting or changing tax accounting methods. Companies that want to reduce their current year tax liability (or create or increase a current year net operating loss (NOL)) should consider accounting […]
GLASTONBURY, CONN., (June 3, 2024) – MahoneySabol, a regional certified public accounting firm based in Glastonbury, today announced the appointment of Corey Veneziano as a Partner in the firm’s esteemed Tax Department. With almost 20 years of comprehensive experience in providing accounting and tax services across various industries to closely held businesses along with their […]
GLASTONBURY, CONN., (February 5, 2024) – MahoneySabol, a regional certified public accounting firm based in Glastonbury, today announced the appointment of Deborah Denno as a Partner in the firm’s esteemed Tax Department. With over 35 years of comprehensive experience in providing accounting and tax services to high-net-worth individuals and closely held organizations across various industries, […]
GLASTONBURY, CONN., (January 19, 2024) – MahoneySabol, a regional certified public accounting firm based in Glastonbury, Connecticut, is pleased to announce the successful merger of Giamalis and Company, a prominent Glastonbury accounting firm known for its expertise and client-focused approach. This strategic move is part of MahoneySabol’s ongoing commitment to enhancing its service offerings and […]
BEPS 2.0 and Intangible Property Planning As of July 2023, 138 jurisdictions had signed on to the Organization for Economic Cooperation and Development (OECD) base erosion and profit shifting (BEPS) 2.0 framework aiming to ensure that multinational enterprises with group revenue of more than EUR 750 million pay a minimum corporate tax rate of 15.0%. […]
With thousands of taxing jurisdictions, from school boards to counties and states, and many different types of taxes, state and local taxation is complex. Each tax type comes with its own set of rules — by jurisdiction — all of which require a different level of attention. This article provides a high-level overview to help […]
The structuring of real estate transactions can have significant tax implications, and new regulatory or statutory developments can change the calculation of how best to approach a transaction from a tax perspective. As part of year-end planning and looking ahead to the coming year, real estate businesses should review how current tax rules apply to […]