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Washington Tax Insight January 2022

Politics and Congressional Activity The first session of the 117th Congress ended at the end of 2021 with key parts of the Biden agenda having been enacted, but without final approval of the Build Back Better Act (BBBA) or action on other key Democratic priorities, such as voting rights.  The fall mid-term elections will have an impact on what Democrats are able to accomplish in 2022 and during the remainder […]

January 13, 2022

The House-Approved Build Back Better Act: Clean Energy & Infrastructure Provisions

On November 19th, the House approved the Build Back Better Act (BBBA), H.R. 5376, by a vote of 220-213 on party lines. The $1.7 trillion bill includes a package of targeted individual tax relief, clean energy incentives, and increased spending on healthcare, education, childcare, and other programs. The legislation is currently being considered in the Senate, where changes are expected to be made to many of the bill’s provisions. In […]

January 3, 2022

Washington Tax Insight December 2021 – Happy Holidays!

Politics and Congressional Activity President Biden laid out an ambitious agenda in his State of the Union address and FY 2022 budget plan earlier this year, and the Democratic-controlled Congress continues to work to enact that agenda in 2021. After pandemic-relief legislation became law in early spring, Congress then moved on to infrastructure legislation, which was enacted on November 15, 2021. Prior to the end of 2021, Congress had a […]

December 17, 2021

The House-Approved Build Back Better Act: Business & International Tax Issues

On November 19th, the House approved the Build Back Better Act (BBBA), H.R. 5376, by a vote of 220-213 on party lines. The $1.7 trillion bill includes a package of targeted individual tax relief, clean energy incentives, and increased spending on healthcare, education, childcare, and other programs. The legislation is currently being considered in the Senate, where changes are expected to be made to many of the bill’s provisions. In […]

December 15, 2021

6 Keys to Understanding Gift Card Escheatment

Authored by John Marbach, Manager and Matthew Chenowth, Director While there are many types of property that go unclaimed, one classification of Unclaimed Property “UP” that often creates confusion involves the escheatment of gift cards and other similar stored value instruments (“GC”). To assist you in taking control of your company’s UP GC obligations, outlined below are “6 Keys” to mastering gift card escheatment: 1. Understand Priority Rules: Determine which […]

December 13, 2021

Synergy ONESOURCE Conference – We’re Baaaaaaaack!

Greetings and Happiest of Holidays to our True Readers.  Once again, our True Partners team attended the Synergy ONESOURCE conference (in Nashville) which was held in person after the 2020 virtual conference.  We’ve learned that after nearly two years of working remotely, many tax professionals are beating to a new song.  Whether a preference for remote work, in person, or hybrid, we’ve all adapted to a new tune these past […]

December 13, 2021