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Next Big Tax Fight Could Pit Wall Street Against Private Equity

By Lynnley Browning February 27, 2017 Debate over a border-adjustment tax is consuming Washington, but another, less-discussed proposal in House Speaker Paul Ryan’s tax plan stands a better chance of being included in a GOP overhaul bill. The measure would force companies to include the interest they pay on loans in their taxable income. That could pit financial services firms such as banks and insurers that have been promised relief […]

June 14, 2017

Washington Tax Insight March 2017

Politics and Congressional Activity Congress faces a full legislative agenda for the spring including budget deadlines, health care reform and tax reform.  President Trump addressed Congress on February 28th, presenting his budget and legislative priorities for this year, but provided no details.  The White House has stated publicly that they will release an outline of the President’s FY 2018 budget proposal by mid-March with a detailed budget to follow later […]

June 14, 2017

Ryan N. McKenzie Named Among FICPA Horizon Awardees

True Partners Consulting (TPC) is pleased to announce that Ryan N. McKenzie, Managing Director, has been named a recipient of the Florida Institute of CPAs (FICPA) Horizon Award, recognizing the brightest young certified public accountants (CPAs) at the forefront of the profession. Through service to the FICPA and our organization, among others, he is advancing the CPA profession and working to better his community. “This recognition of Ryan is well […]

June 14, 2017

Upcoming Tax Amnesty Programs

Connecticut This proposed amnesty program covers unreported and under-reported tax obligations due by 12/31/16 and will take place 7/1/17 – 10/31/18. Pennsylvania This statutory amnesty program covers tax liabilities delinquent as of 12/31/15 with a 5-year lookback (1/1/11). It will be offered 4/21/17 – 6/19/17 and during this limited 60-day period the Department of Revenue will waive all penalties and half of the interest on eligible tax delinquencies for anyone […]

June 14, 2017

Washington Tax Insight April 2017

Politics and Congressional Activity Congress and the White House continue to manage a full legislative agenda including health care reform, budget deadlines, tax reform, House and Senate intelligence committee hearings on Russian involvement in the 2016 election, and confirmation of a Supreme Court nominee. Health Care reform:  On March 24th, the President and House Speaker Ryan decided to delay indefinitely a final vote on the GOP legislation to repeal and […]

June 14, 2017

Delaware Releases Drafts of New Proposed Regulations and Forms to Convert an Unclaimed Property Audit to a Voluntary Disclosure Agreement

Proposed Changes to Delaware Regulations Two versions of the highly anticipated proposed regulations to Delaware’s Abandoned or Unclaimed Property Law were released: one by the Delaware Department of Finance (“DOF”) on April 1, 2017, and another by the Delaware Department of State (“DOS”) on April 7, 2017. The stated goal of the proposed regulations was clear: Draft regulations regarding estimation methods that would create consistency in any unclaimed property examination […]

June 14, 2017