Even though they have been around for several years, the tax laws pertaining to S-Corporations remain some of the more difficult areas of the Internal Revenue Code. Given the rising popularity of S-Corporations, understanding how shareholder basis and the equity section of the balance sheet work together for tax purposes is imperative for nearly any...

With constant shifts in the federal tax landscape, practitioners need more than just a list of new code sections—they need clarity, strategy, and context. This quarterly update dives into the latest tax law developments, including impactful provisions of the One Big Beautiful Bill Act (OBBBA), current IRS enforcement priorities, and emerging business tax topics. Using...