Last week, we unpacked Kentucky’s new tax laws in this great post by Cheryl Ganim. The measure was ratified by the Kentucky General Assembly in an override of Governor Andy Beshear’s veto this month. Now it’s time to take a look from a different angle, including the thinking behind
The Kentucky General Assembly spent the second to last day of the 2022 legislative session overriding Governor Beshear’s vetoes related to the state budget, taxes, education, and more. The changes are effective for tax years after January 1, 2023. If certain conditions are met, the individual income tax will be
2021 was a historic year for mergers and acquisitions, with deal volume exceeding $5 trillion – and the trend shows no signs of slowing down, despite increasing economic pressure from inflation and rising interest rates. As dealmakers on both the buying side and selling side look for new ways
The IRS entered the 2022 tax season with significant operational challenges including an enormous backlog of unprocessed returns and chronic issues with customer service quality. While it’s typical for the agency to begin tax season with up to about one million unprocessed returns, this year the number increased to 11.7
Did you receive an IRS notice to submit a previously filed 2020 tax return? As the Internal Revenue Service struggles with a still massive backlog generated by the pandemic and staffing challenges – the same issues impacting nearly every sector of the economy – some automatically generated IRS notices are
President Biden signed the Infrastructure Innovation and Jobs Act back in November 2021, sunsetting the Employee Retention Tax Credit (ERTC) program one quarter early (with some exceptions for recovery startups). This early “cut-off” eliminated the 4th quarter of 2021 as a qualifying quarter for the credit – but it