Author Archives: mgracey
Recipients of Social Security and Supplemental Security Income (SSI), including senior citizens, widows and persons with disabilities and special needs, will receive a 2.3 percent cost-of-living adjustment (COLA) to the benefits they receive in 2025. The increase translates to an average of $50 in additional monthly benefits, which is on par with the last 20 […]
In this episode Associate Director of Forensic and Advisory Services Richard Fechter, JD, CAMS, CFE, shares the types of fraud that can be uncovered in a forensic investigation.
UPDATED – On March 2, 2025, the Department of Treasury announced CTA will be narrowed to only foreign reporting companies. UPDATED – On December 3, 2024, a federal court in Texas ruled that the CTA is likely unconstitutional and prohibited its enforcement. This set off a review, injunction and follow-up hearing date in March […]
The IRS recently launched a new unit committed to enforcing U.S. tax laws among pass-through entities, such as S corporations, partnerships and trusts, whose income passes from the business to its owner’s individual tax returns where taxes are due at the owners’ marginal income tax rates. The move is part of the agency’s broader focus […]
It is well established that a legal entity created for the purpose of carrying on a trade or business is considered a separate and distinct legal entity from its owner(s) or shareholder(s). However, there are circumstances in commercial litigation when a plaintiff may pierce this corporate veil and hold the owners personally liable for the […]
Earlier this summer, Florida’s legislators passed House Bill 1021 (HB 1021), which places more rigorous governance, transparency and accountability requirements on the state’s condominium and homeowners associations and the management firms with which they work. These changes, which went into effect on July 1, 2024, also give homeowners and their legal counsel new tools for […]
UPDATED – On March 2, 2025, the Department of Treasury announced CTA will be narrowed to only foreign reporting companies. UPDATED – On December 3, 2024, a federal court in Texas ruled that the CTA is likely unconstitutional and prohibited its enforcement. This set off a review, injunction and follow-up hearing date in March […]
With just a few weeks to go until Election Day, and with early voting already underway in several states, you would think that each candidate’s policy positions are firmly set by now. It would be even more reasonable to think that about their tax proposals since taxes should be less affected by day-to-day current events. […]
The people you name to administer your trusts play a pivotal role in protecting your assets. Not only do they have the fiduciary duties to make prudent investment decisions and manage the distribution of trust assets as specified in your trust agreements, but they are also legally responsible for ensuring beneficiaries receive a full accounting […]
The Financial Crimes Enforcement Network (FinCEN) today postponed the 2023 Report of Foreign Bank and Financial Accounts (FBAR) filing deadline from Oct. 15, 2024, to May 1, 2025, for taxpayers who live in federally designated disaster areas in the wake of Hurricane Helene. This six-and-a-half-month filing extension applies to qualifying taxpayers in Alabama, Georgia, North […]