Insights and News
IRS issues partnership basis shifting guidance
On June 17, 2024, the IRS and Department of Treasury (Treasury) issued guidance on certain partnership transactions the agencies consider potentially abusive.
Insights and News
House passes tax deal with decisive bipartisan support
House passes Tax Relief Act 2024. Senate's move crucial. Explore the Bill's impact & prospects for American families.
Insights and News
White House budget plan proposes tax increases
Learn more about proposed tax changes in President Biden's $6.8 trillion budget proposal for the 2024 fiscal year.
Insights and News
Supreme Court: nonwillful FBAR penalty applies per report, not per account
On Feb. 28, 2023, the U.S. Supreme Court ruled that the $10,000 maximum penalty for the nonwillful failure to file a FBAR is determined on a per report basis.
Insights and News
Post-election tax planning for 2021 and beyond
Watch Baker Tilly’s on-demand webinar answering your questions on post-election tax planning!
Insights and News
Employers’ use of health reimbursement arrangements expands
A new rule lifts the limits on how health reimbursement arrangements are implemented by employers. Learn about the two new types of HRAs and how they may be integrated into your healthcare plan.
Insights and News
Small business saves up to $60,000 annually with tax reform strategies from Baker Tilly Advantage
Partners of a commercial real estate firm to receive $50,000 to $60,000 in tax savings annually thanks to a new regulation from the Tax Cuts and Jobs Act.