News
June 6, 2022
Colorado’s SALT Parity Act
This new law concerns the authority of a pass-through business entity to elect to pay state income taxes at the entity level, known euphemistically as Colorado’s SALT Parity Act. HB21-1327 authored by Representative Ortiz & Van Winkle and Senators Kolker and Woodward among other things added...
May 28, 2022
Colorado’s NEW Retail Delivery Fee (RDF) – Are YOU Ready?
The Californication of Colorado Continues...
May 12, 2022
Colorado Tax Legislation Update
Colorado Tax Legislation Update As the Chair of the Government Relations Committee for the Colorado Society of Enrolled Agents outreach to legislators was provided on bills moving through the process this session as they pertained to matters of taxation. With special thanks to Heidi Morgan of Wagner...
April 28, 2022
IRS proposed Regulations on Basic Exclusion Amount for Estate and Gift Taxes
IRS proposed Regulations on Basic Exclusion Amount for Estate and Gift Taxes. The Tax Cuts and Jobs Act increased the basic exclusion amount (BEA) used to compute federal estate and gift taxes. For decedents dying and gifts made after Dec. 31, 2017, and before Jan. 1, 2026, the...
February 20, 2022
Understanding Schedule M-2 on IRS Forms 1120 and 1120-S
Understanding Schedule M-2 on IRS Forms 1120 and 1120-S is being brought to you from the rear passenger seat of my Toyota Sienna while commuting back to Fort Collins Colorado where my eldest is navigating CSU’s new Agricultural Biology program. To assuage pending separation anxiety, jotting...
February 5, 2022
Compliance Issues for Liquidating Distributions of a Partner’s Interest in a Partnership
What is YOUR exit strategy from THAT partnership?...
January 24, 2022
First Day of Tax Filing Season, the IRS Ogden (Utah) Service Center is Hobbled – IRS Crisis
Monday January 24th 2020 was NOT a good first day of tax filing season, the IRS Ogden (Utah) Service Center was Hobbled. Is the stage being set for a proverbial $hit$how over the next several months? Was the IRS campus center housing all those servers hacked? Who...
January 13, 2022
Estate Tax and Legacy Planning Considerations
Estate Tax and Legacy Planning Considerations Now that the Build Back Better (BBB) ‘Framework’ has evidently been shelved there seems to be no better time to contemplate estate tax and legacy plans. Afterall what better time is there? And who wants to give 40% of their...