Tax & Compliance

The “One Big Beautiful Bill” Act (OBBBA) Impact As of May 2026, the tax landscape for LLCs has been stabilized by the One Big Beautiful Bill Act (OBBBA). The most significant victory for pass-through entities (LLCs, S-Corps, and Partnerships) is that the Section 199A deduction, which was previously set to expire, has now been made … Read more

The Enforcement Reality of May 2026 As of May 2026, the temporary reprieve on Beneficial Ownership Information (BOI) reporting has officially ended for foreign reporting companies, with audits now being prioritized by the Financial Crimes Enforcement Network (FinCEN). While U.S. domestic companies saw a significant shift in requirements earlier in 2025, foreign-formed entities registered to … Read more

For the May 2026 tax cycle, the IRS has issued a clarifying memo on Section 174, affecting how LLCs amortize R&D and software development costs.

As of May 5, 2026, federal regulators have signaled a final crackdown on the de-minimis tax exemption used by thousands of small e-commerce LLCs.

Today, May 5, marks the start of the SBA’s two-day Virtual Summit, part of National Small Business Week 2026.

As of May 5, 2026, the IRS has significantly expanded its use of machine learning to flag inconsistencies across millions of records.

Starting in 2026, the IRS has implemented a significant shift in how it handles rejected direct deposits to modernize payments.