The Inflation Reduction Act of 2022 (the Act) passed by the House on August 12, 2022 and is now headed for President Joseph Biden's signature. The Act includes targeted business tax increases, funding for IRS compliance and enforcement, incentives to promote climate change mitigation and clean energy, and expansion of the small business payroll tax research credit. The measure extends for two years the excess business loss limitation for individuals, estates and trusts.

In November, Massachusetts voters will decide whether to approve a constitutional amendment to impose a 4% surtax on household income greater than $1 million.

Selling a business unit requires closely examining a myriad of potential commercial and financial outcomes. For state corporate income tax purposes, one of the most critical considerations is the unitary business principle.

Businesses that operate in more than one state are not only subject to each jurisdiction's tax but must also adhere to each state's rules for sourcing certain types of income.

When California issued Technical Advice Memorandum 2022-01 (February 14, 2022) (TAM 2022-01), it became the first state to adopt a tax policy that significantly weakens Public Law 86-272 (P.L. 86-272), which prohibits states from imposing income tax on certain out-of-state businesses that sell tangible personal property.

Cryptocurrency made its debut as Bitcoin in 2009 but took several years to gain mainstream attention. After growing somewhat used to the concept of cryptocurrency, new blockchain inventions have gained traction.

INSIDE Public Accounting (IPA) has once again ranked Andersen on its Top 100 and Fastest-Growing Organic Growth Firm lists.

Andersen Global continues to maintain its foothold in the Caribbean through a Collaboration Agreement with Guadeloupe-based law firm InWest Avocats, adding coverage to the southern edge of its presence in the region.

Andersen Global enters a Collaboration Agreement with Montserrat-based LAS Legal Consultancy & Law, signifying the global organization's commitment to drive growth and deliver results in the Caribbean.