The construction and real estate development industry continues to operate in a complex tax environment in 2026. Between the phase-down of bonus depreciation, ongoing interest expense limitations, evolving state conformity…
K2 and K3: Expansion of the Domestic Filing Exception
Since their initial release in 2021, Forms K2 and K3, used to report international tax items, have created an expanded compliance burden for many pass-through entities, including those with little…
Alert: Liberation Day Tariffs Overturned
On Friday, February 20, 2026, the Supreme Court overturned two levels of broad global tariffs on imported goods imposed by the current administration. In a 6-3 decision, the court stated…
Understanding the New IRS Electronic Payment and Refund Mandate for Trusts and Estates
On March 25, 2025, Executive Order 14247 was issued, requiring that all federal payments, including tax payments to the IRS, be made via electronic funds transfer (EFT). This mandate is…
Navigating Sales Tax Issues for Construction Contractors in Pennsylvania
As a construction contractor operating in Pennsylvania, you’re likely aware that you face a complex set of sales and use tax rules that depend on nuanced distinctions between real property…