As companies manage current cost structures and expand into new markets, UHY Advisors can be a powerful ally. We offer one of the broadest spectrums of tax planning and compliance services of firms our size. Many of our managing directors and principals bring Big Four and industry experience, and are adept in working closely with individuals and companies to assure they pay their “fair share” of taxes.
For closely held businesses, personal tax and corporate tax issues can be closely related; we have advised such companies and families on such issues for more than 40 years, in some cases over multiple generations.
UHY Advisors also brings unique industry experience and insight for larger corporations who face unique tax opportunities. And for companies with domestic or foreign expansion plans, our deep capabilities in State & Local Tax and International Tax can identify tax opportunities and provide planning services which can mitigate unexpected tax consequences before they occur.
In December 2017, the Tax Cuts and Jobs Act (TCJA) was passed and amended the Internal Revenue Code to increase the basic exclusion amount (BEA) from $5 million to $10 million (adjusted for inflation) on gifts made or estates of decedents dying after Dec. 31, 2017 and before Jan. 1, 2026.
The IRS has released the updated income tax brackets for 2020 returns, modified to keep pace with inflation.
The IRS has mailed letters to more than 10,000 taxpayers who may have owned or currently own cryptocurrency. The letters are a result of the IRS' attempt to capture untaxed cryptocurrency by educating taxpayers about the tax filing requirements for reporting virtual currency transactions.
October 1 represents a new fiscal year for the federal government and Congress is back in session after the August recess. Can we anticipate more tax legislation changes before the end of the year?
High earners on an income of 1.5million USD in G7 countries pay over 60% more in income tax than those in BRIC economies, according to new research by UHY International, the international accountancy network*.
<span id="selection-marker-1" class="redactor-selection-marker"></span><span class="redactor-invisible-space"></span>Understanding IRS Tax Disputes