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Staying Informed in a Rapidly Evolving Policy Landscape

Success in implementing and executing a Total Tax Approach means that organizations must constantly monitor the rapidly changing tax legislative and regulatory landscape. Insights from a trusted advisor can help you develop plans and approaches to appropriately adapt to evolving tax environments and new complexities.  

We are committed to helping you navigate and thrive in this environment. Our team, which includes former Congressional, IRS, Treasury, and U.S. Tax Court staff, provides the latest analysis and insights to help you capitalize on tax planning opportunities. 

Let us be your primary resource for staying ahead in this complex regulatory tax policy environment.

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Article

IRS Seeks Feedback on Draft Instructions for Form 6765, Credit for Increasing Research Activities

January 17, 2025
Article

IRS Seeks Feedback on Draft Instructions for Form 6765, Credit for Increasing Research Activities

January 17, 2025

The IRS on December 20, 2024, announced in IR-2024-313 the release of draft instructions for the new Form 6765, Credit for Increasing Research Activities.

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Article

California Announces Tax Relief for Those Affected by LA County Wildfires

January 16, 2025
Article

California Announces Tax Relief for Those Affected by LA County Wildfires

January 16, 2025

In light of the recent wildfires in Los Angeles County, California is providing relief for state franchise and income tax, sales and use tax, property tax, and payroll tax.

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Article

California Governor’s Budget Proposes Single Sales Factor for Financial Institutions and Extension of Elective PTET

January 14, 2025
Article

California Governor’s Budget Proposes Single Sales Factor for Financial Institutions and Extension of Elective PTET

January 14, 2025

On January 10, California Gov. Gavin Newsom released his 2025-2026 budget proposal to the California Legislature.

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Article

Treasury Publishes Technical Corrections on Proposed CAMT Regulations

January 6, 2025
Article

Treasury Publishes Technical Corrections on Proposed CAMT Regulations

January 6, 2025

Following the September 12, 2024, release of the proposed CAMT regulations, Treasury and the IRS released technical corrections on the proposed CAMT regulations on December 23, 2024.

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Article

Treasury, IRS Issue Section 987 Regulations on Foreign Currency Gain or Losses

December 19, 2024
Article

Treasury, IRS Issue Section 987 Regulations on Foreign Currency Gain or Losses

December 19, 2024

The U.S Treasury Department and the IRS on December 10, 2024, issued final and proposed regulations under Internal Revenue Code Section 987. The Section 987 regulations provide guidance for determining taxable income or loss or earnings and profits of a taxpayer with respect to a qualified business unit (QBU) that uses a different functional currency than its owner.

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Article

IRS Updates Procedural Guidance on Section 174 Accounting Method Changes for Taxable Years Beginning in 2024

December 19, 2024
Article

IRS Updates Procedural Guidance on Section 174 Accounting Method Changes for Taxable Years Beginning in 2024

December 19, 2024

Rev. Proc. 2025-8, issued on December 17, 2024, provides modified procedural guidance that expands the ability of taxpayers with taxable years beginning in 2024 to file an automatic accounting method change for specified research or experimental expenditures (SREs) under Internal Revenue Code Section 174.

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Article

IRS Releases Guidance on New Transfer Pricing Methodology

December 19, 2024
Article

IRS Releases Guidance on New Transfer Pricing Methodology

December 19, 2024

After years of debate and negotiation, the Organization for Economic Cooperation and Development’s (OECD’s) Pillar One, Amount B has taken a major step forward with the IRS’s release on December 18, 2024, of Notice 2025-04: “Application of the Simplified and Streamlined Approach under Section 482.”

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Article

California Legislature Recommends Updating Conformity to Select IRC Provisions

December 19, 2024
Article

California Legislature Recommends Updating Conformity to Select IRC Provisions

December 19, 2024

The California Senate Revenue and Taxation Committee has released its 2024 tax conformity recommendations on whether California should conform to various changes made to the Internal Revenue Code after January 1, 2015 (known as “selective conformity”).

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