On May 5, 2026, the IRS issued Rev. Proc. 2026-21, reviving a practice that allows taxpayers to request private letter rulings (PLRs) on discrete, significant tax issues arising in complex corporate transactions, without requiring a ruling on the…

On March 18, 2026, the IRS issued Revenue Procedure 2026-17 (the Procedure), which permits taxpayers to revoke certain previously “irrevocable” elections under the §163(j) business interest deduction limitation regime. Most notably, the relief…

Tokenization can represent ownership or economic rights in a real-world asset (RWA), such as real estate, debt, fund interests, artwork, receivables, bank deposits, etc. as a digital token on a public blockchain. The result can be fractional…

The application period for the 2025 Massachusetts Life Sciences Tax Incentive Program (LSTIP) opened in mid-January and will close at 2 p.m. on March 31, 2026. This program is offered through the Massachusetts Life Sciences Center (the MLSC, the…

On February 20, 2026, Treasury and the IRS released Notice 2026-16, providing interim guidance on the new 100% special depreciation allowance for qualified production property (QPP) under Internal Revenue Code §168(n).[1]  Enacted as part of…

As 2025 financial reporting deadlines approach, companies are assessing the income tax accounting implications of the One Big Beautiful Bill Act (OBBBA), enacted on July 4, 2025. For organizations with M&A activity, OBBBA’s retroactive…

New Hampshire is currently offering a generous tax amnesty program. The program commenced on December 1, 2025, and it will end on February 15, 2026.These types of programs are not offered very often, so it is wise to consider taking advantage…

Treasury and the IRS recently issued four notices announcing proposed regulations that would implement key changes to the international tax provisions of the Internal Revenue Code, as enacted by the One Big Beautiful Bill Act (OBBBA).[1] The…