First Time Abate is going away. The new Automatic Exemption from Penalty grants relief without a call, but transition-year notices need attention.
Recent Taxbytes
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Tax Court weighs in on claiming depreciation for a property converted from personal to rental
6 min read
529 plans have been transformed under the One, Big, Beautiful Bill Act, expanding the definition
2 min read
The One, Big, Beautiful Bill Act raised the SALT limit, granting much needed relief to
2 min read
A new online revivor application has been launched by the Franchise Tax Board of California.
4 min read
Section 1202 has been revamped by the One, Big, Beautiful Bill Act (OBBBA) with a
3 min read
A new 1% excise tax of remittance transfers quietly passes in the One, Big, Beautiful
5 min read
The One, Big, Beautiful Bill Act's passing created "Trump Accounts", a savings plan for those
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