Posted on September 14, 2026
by
Angie Adames
The IRS recognizes that mistakes happen and has long offered qualifying taxpayers relief from certain penalties through its First-Time Abatement (FTA) administrative Relief program. Historically, however, many taxpayers did not receive this relief because they did not know it existed or they failed to reach the IRS to request it. This changes immediately with the […]
Included in the Joint Committee on Taxation’s (JCT’s) recently released Blue Book report, lawmakers clarify a provision in the One Big Beautiful Bill Act (OBBBA) that introduces new limits on itemized deductions claimed by taxpayers in the top tax bracket and extends them to non-grantor trusts and estates for the first time. The result could […]
Posted on August 24, 2026
by
Angie Adames
When it comes to tax laws, do-overs are uncommon. However, when the IRS offers taxpayers an opportunity to reverse decisions and actions from prior years, they should take the time to consider their options. This is the case with the IRS’s recently issued Rev. Proc. 2026-17, which allows certain real estate businesses to withdraw previously […]
Posted on August 10, 2026
by
Alex Keneiby
On June 18, 2026, the IRS issued guidance on the pending tax deferral deadline for the original Qualified Opportunity Zone (QOZ 1.0) program under the Tax Cuts and Jobs Act (TCJA) and the program changes introduced in 2025 by the One Big Beautiful Bill (OBBBA), which is commonly referred to as QOZ 2.0. Taxpayers, including […]
Posted on August 03, 2026
MIAMI, August 3, 2026 – Baker Tilly x Berkowitz Pollack Brant today announced the promotion of 54 firm members in recognition of their outstanding leadership, professional achievements and dedication to delivering exceptional client service. The promotions include five new managing directors: Patrick Duynstee has more than 25 years of experience advising private equity firms, business […]
Posted on July 27, 2026
by
Adam Cohen
Private foundations help high-net-worth families create lasting, multi-generational philanthropic legacies that reflect their unique values and goals and deliver unique income and estate tax advantages. While they provide a legal structure for family members to control their giving and maximize the impact of those gifts, they also come with a long list of rules, restrictions […]
Over the past few years, many high-net-worth family matriarchs and patriarchs rightfully accelerated their gift-giving strategies to reduce the value of their taxable estates in anticipation of a scheduled halving of the estate tax exemption at the end of 2025. However, with the enactment of the One Big Beautiful Bill Act (OBBBA) in July 2025 […]
Businesses generally lose two valuable tax deductions for the costs of meals they provide to their employees after Dec. 31, 2025. This includes the costs of most meals provided at an employer’s convenience and meals provided at company-operated dining facilities, unless a specific exception applies. Background The Tax Cuts and Jobs Act (TCJA) of 2017 […]
The IRS introduced a new process for taxpayers to request more time to review, respond to and resolve disallowed Employee Retention Credit (ERC) claims beyond the existing two-year window, including the option to file a refund suit. Background Congress introduced the ERC as a payroll tax credit for businesses that continued to pay workers during […]
The One Big Beautiful Bill Act (OBBBA), enacted in 2025, expands taxpayers’ eligibility for health savings accounts (HSAs), allowing more people to save and pay for qualifying medical expenses through these triple-tax-advantaged accounts. With an HSA, contributions by qualifying taxpayers via payroll deductions are not subject to federal income tax, whereas self-funded contributions are tax-deductible […]
