True Partners Insights

Pillar Icon
Unclaimed Property – Do the States Owe Your Company Money?

Given recent global events, many organizations are experiencing financial hardships.  Why not use this time as an opportunity to see if the states are holding unclaimed property owed to your company, or work with someone who specializes in doing so?  Companies in compliance are typically on the paying end of the unclaimed property process, turning over abandoned property it holds to the appropriate jurisdiction annually.  However, remember that that is […]

June 2, 2020

Washington Tax Insight June 2020

Politics and Congressional Activity Due to the COVID-19 pandemic, Congress has spent very little time in session for the last several weeks with the House convening for a handful of days in May with new rule changes allowing proxy voting, and the Senate in session for several days but not for its full original schedule.  Although the House passed additional legislation to address the economic impacts of the pandemic, the […]

June 1, 2020

Highlights of the Final and Proposed Regulations on Hybrid Transactions Issued by Treasury and the IRS on April 7, 2020

On April 7, 2020, the US Treasury and IRS released final regulations (T.D.9896) (Final Regulations) and new proposed regulations (REG-106013-19) (Proposed Regulations) for hybrid transactions under §245A(e) and §267A of the Internal Revenue Code.  These transactions were addressed as part of the 2017 US tax reform legislation, referred to as the Tax Cuts and Jobs Act (TCJA) (Pub. L. No. 115-97 enacted December 22, 2017).  According to the IRS, the […]

June 1, 2020

True Partners Consulting Named One of the 2020 Best Workplaces in Chicago by Great Place to Work

Great Place to Work® has honored True Partners Consulting as one of the 2020 Best Workplaces in Chicago. The ranking considered over 27,000 responses from Chicago area employees. Great Place to Work, a global people analytics and consulting firm, evaluated more than 60 elements of team members’ experience on the job. These included the extent to which employees trust leaders, the respect with which people are treated, the fairness of workplace decisions, and how much camaraderie […]

May 21, 2020

Recently Issued IRS Guidance on the CARES Act Employee Retention Credit

On April 29, 2020, the IRS issued a list of Frequently Asked Questions (“FAQs”) to provide clarification around the Employee Retention Credit (“ERC”), as provided for in the Coronavirus Aid, Relief, and Economic Security Act (“CARES” Act).  As noted in the IRS guidance, these IRS FAQs are not legally binding.  Additionally, these FAQs contain guidance that differs from earlier guidance provided by the April 23, 2020 Joint Committee on Taxation […]

May 7, 2020

Washington Tax Insight May 2020

Politics and Congressional Activity   The COVID-19 crisis continues to be the focus for the agenda of Congress and the Administration with efforts to deal with both the public health crisis and the economic crisis.  Congress has now enacted four pieces of legislation aimed at addressing the health and economic impacts of the pandemic, and additional legislation is expected this year. The Senate returned to work in Washington on May […]

May 6, 2020