Washington Wire

Talking Taxes in a Truck Episode 25: “A Quiet Place”

January 12, 2023|

With the 118th Congress underway, there’s a general sentiment that the next two years of divided government will be a quiet place for tax policy. To explore that question we invited Marc Gerson, Miller & Chevalier’s Tax Department Chair and longtime S-CORP ally, for a return visit to the podcast. Marc breaks down the tax policy to-do list facing Congress, runs

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Your State Could Be Costing You Millions

December 20, 2022|

To mark the five-year anniversary of the Tax Cuts and Jobs Act, Tax Notes recently released a podcast reflecting on the 2017 bill, with a focus on how states have responded to its $10,000 cap on state and local tax (SALT) deductions. It’s a great reminder of how much the S Corporation Association has helped accomplish in that time, the billions of dollars being saved by businesses each year, and the confounding fact that

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Main Street Backs CTA Legal Challenge

December 7, 2022|

This week, the Main Street business community voiced its support the National Small Business Association’s lawsuit challenging the constitutionality of the Corporate Transparency Act (CTA).

The letter was signed by more than 45 trade associations, including the International Franchise Association, National Roofing Contractors Association, the National Association of Wholesaler-Distributors, and the Real Estate Roundtable. These trades represent businesses from every state and nearly every sector of the economy.

As the letter makes clear, the CTA

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Talking Taxes in a Truck Episode 24: “I’m Worried About Everything”

December 6, 2022|

If you operate a business, your inbox is probably full of solicitations from firms promising a big payday through the Employee Retention Credit. We receive several a day, which got us wondering – what’s the real story here? To address that question and more, we invited Lynn Mucenski-Keck, a Principal at Withum and prolific writer on federal tax policy to discuss the history of the ERC, the interplay between the credit and the Section 199A

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ENABLERS Targets Main Street, Not Oligarchs

November 29, 2022|

A recent op-ed in the Washington Post has all the earmarks of blatant government overreach disguised as national security advocacy.  The op-ed, Congress is Letting International Money Launderers off the Hook supports the so-called ENABLERS Act and hits all the key words – “Putin,” “kleptocrat,” “ill-gotten gains,” “basic due diligence” – on the partisan FACT Coalition bingo card. What it fails to do is explain how the bill will make Americans safer or

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The Corporate Transparency Act: Bad Policy and Unconstitutional

November 18, 2022|

As we’ve observed previously, the Corporate Transparency Act is a poorly constructed bit of law. It will do little to combat money laundering as the criminals will simply refrain from self-reporting their crimes, but it will saddle millions of lawful small business owners with yet another reporting requirement as well as an opportunity to have their personal information spread all over the internet.

On Tuesday the National Small Business Association (NSBA) highlighted another reason to

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Webinar Replay: Midterms Recap

November 11, 2022|

On Thursday S-Corp hosted a webinar to break down the results of the midterm elections, and explain what it all means for the S corporation business community.

Hosted by S-Corp President Brian Reardon, the webinar laid out everything we know so far about the results, including why an expected “Red Wave” never actually reached the shore, the various scenarios that could still play out in the House and Senate, and the implications for tax policy in

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Talking Taxes in a Truck Episode 23: “Maybe Everything We Know Is Wrong”

November 3, 2022|

For this special Midterm Elections-themed podcast we’re joined by Jade West, Chief Government Relations officer at the National Association of Wholesaler-Distributors and Liam Donovan, a Principal at Bracewell. Jade, Liam, and Brian kick things off by talking about whether we can expect a “Red Wave” in the House – and if so, how big. Later the group breaks down each of the hotly-contested Senate races, and explains why the polls might be wrong once again.

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