Overview of New Partnership Tax Audit Rules
Under the new audit rules, individual partners cannot participate in the partnership tax audit. Rather, one “partnership representative” acts on behalf of the partnership, and binds the partnership to any adjustments that are made. Under the new rules, partners no longer have the right to be notified of, or participate in, partnership tax audits. Most …
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Listen to Our Tax Planning Webinar
The Impact of Tax Cuts and the Jobs Act on C Corporations: A Summary of Key Tax Planning Strategies FGMK recently hosted a live webinar where our FGMK tax practitioners Charles Schultz, Fuad Saba and Dan Laughlin offer their insights and guidance on new tax planning opportunities for C corporations. This webinar will be of …
Attention Massachusetts 1040 Filers – Fraud Protection Option
Article prepared by FGMK Tax Senior Manager J Michael Reese If you are a taxpayer that has an individual filing requirement in Massachusetts in 2017, FGMK would like to make you aware of a recent program initiated by the State to curtail the effects of fraudulent tax returns potentially being filed on your behalf. Massachusetts …
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Illinois EDGE Credit
Summary The Illinois Economic Development for a Growing Economy Tax Credit Program (“EDGE”) has been reinstated and revised as of September 18, 2017 pursuant to House Bill 162. The EDGE program is the centerpiece and primary business development incentive that the State of Illinois uses to attract new businesses and retain current Illinois employers. Program …