Insights
California FTB Overcollections: When an Old Refund May Still Be Recoverable
Discovering that California collected too much tax is frustrating enough. Discovering the error years later, after the normal refund deadline has expired, can make the situation appear unrecoverable. A new Franchise Tax Board ruling provides an important exception in...
Made Money on a Prediction Market? California Says It Is Still Taxable Even Without a 1099
Prediction markets have moved quickly from a niche trading activity into the mainstream. These markets are exchange-based platforms where individuals buy and sell contracts tied to the outcome of a future event—such as election results, inflation reports, Federal...
Do Not Wait Until Tax Season to Build Your 2026 R&D Tax Credit Documentation
For many technology and life sciences companies, the records needed to support the 2026 Research and Development (R&D) tax credit are being created right now. Engineering tickets are being closed, sprint epics are moving into production, scientists are advancing...
Business Interest Deductions Changed Again: What New Section 163(j) Rules Mean for 2026
Businesses carrying significant debt have more room to deduct interest under the current Section 163(j) rules, but the impact depends on how the business calculates adjusted taxable income, or ATI, and how its financing and entity structure interact with the...
Should your Company File a Separate or Consolidated Corporate Tax Return?
When a business adds a corporate subsidiary or acquires another company, management may have a choice to make: should each corporation file its own federal income tax return, or should the affiliated group file one consolidated return? A consolidated return can allow...
ACA Affordability Rises to 10.22% for 2027: What Employers Should Recalculate Before Open Enrollment
The Affordable Care Act affordability percentage will increase to 10.22% for plan years beginning in 2027, according to Revenue Procedure 2026-26. This is the third consecutive annual increase, following thresholds of 9.96% for 2026, 9.02% for 2025, and 8.39% for...
Opportunity Zones Are Becoming Permanent, but Existing Investors Still Face the 2026 Rules
The Opportunity Zone program is entering a permanent phase, but existing investors are not automatically moving into the new framework. Notice 2026-40 confirms that investments made under the original Opportunity Zone regime remain subject to the original December 31,...
The Tax Impact of Getting Married: What to Update Before Filing Season
Marriage is a meaningful personal milestone, and it can also change how your tax return is prepared. Newly married couples may need to update names and addresses, revisit payroll withholding, compare filing statuses, and coordinate tax records before the next filing...
2026 Roth IRA and Roth 401(k) Changes: Tax Planning Before You Contribute
Roth retirement accounts are often described in simple terms: pay tax now, allow the assets to grow, and take qualified withdrawals without federal income tax later. That basic framework still applies, but recent changes have added new choices and new tax consequences...