Despite initiating an upgrade to its data loss prevention plan 8 years ago, the IRS still does not have all systems operational. According to a new report issued this week by the Office of the Treasury Inspector, the agency has taken some steps to prevent the loss of personally identifiable information through email, but “continued…
Read More »The Department of the Treasury this week released its proposed regulation clarifying aspects of the Opportunity Zones created under President Trump. The Opportunity Zones were created by the Tax Cuts and Jobs Act back in December 2017, ostensibly to encourage investment in 8000+ specific areas across the country by allowing investors to defer, reduce and…
Read More »The Internal Revenue Service (IRS) has issued a proposed new rule that will serve to block state efforts to circumvent the $10,000 state and local tax (SALT) deductions limit that was established by the Tax Cuts and Jobs Act last December. A number of high-tax states – New York, New Jersey and Connecticut, in particular…
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While the Burger King acquisition of Tim Horton’s a few weeks ago caught many unaware, seemingly none more so than the United States Treasury Department. A few weeks after BK acquired Tim’s and undertook a tax inversion that will save the company significant money in tax liability, the Treasury has promulgated new rules that make…
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