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Casualty Loss Relief

Casualty Loss Relief

The newly enacted Federal Disaster Tax Relief Act of 2023 allows individual taxpayers affected by federally declared disasters to deduct personal casualty losses without itemizing deductions and without the typical reduction of $100 per casualty loss and 10% of...
Social Security Fairness Act

Social Security Fairness Act

On January 5, 2025, the Social Security Fairness Act was signed into law, ending the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). These two provisions reduced or eliminated Social Security benefits to many people receiving pensions from...
Beneficial Owner Reporting

Beneficial Owner Reporting

A federal district court lifted the last remaining injunction delaying the Financial Crimes Enforcement Network’s (FinCEN) requirement for most businesses to file Beneficial Ownership Information (BOI) reports. As a result, businesses that have not already filed will...