Tax

The IRS has extended the filing deadline to from May 15, 2023 to October 16, 2023 for victims of severe winter storms, flooding, and mudslides in California. This extension currently applies only to applicable federal returns and payments, California has not conformed as of the date of this announcement

At a Glance Main Takeaway California Governor Gavin Newsom is targeting certain state residents who have set up an Incomplete Non-Grantor Gift Trust (ING Trust) in a state without an income tax to avoid paying taxes in California

On February 10, 2023, the IRS announced that regarding special state tax payments, “in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns.” This includes the California Middle Class Tax Refund

At a Glance Main Takeaway With rising inflation worldwide, businesses must stay informed on how to combat inflation to prevent declining profit margins as the cost of goods and services increases

At a Glance Main Takeaway Operational transfer pricing is critical to global value chains for multinational corporations

https://windes.wistia.com/medias/d54s35zu4q?embedType=async&videoFoam=true&videoWidth=640   This webinar covers ASC 740 tax accounting for recent legislative changes

At a Glance Main Takeaway For real estate owners in Los Angeles, the recently passed Measure ULA, or the Homelessness and Housing Solutions Tax, may significantly impact your tax liability when buying or selling a property

The Governor’s office has announced that California will conform to the filing extensions granted by the IRS for California storm victims