by Rollin Groseclose | May 26, 2026 | Tax Watch
North Carolina is one of many states that have still not updated their conformity with the Internal Revenue Code following the passage of the One Big Beautiful Bill Act (OBBBA). As of today, the state continues to conform to the IRC as of January 1, 2023. We are...
by Rollin Groseclose | May 26, 2026 | Tax Watch
Executive Summary Certain tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were invalidated following a Supreme Court ruling, prompting U.S. Customs and Border Protection to launch a refund process for eligible businesses that previously...
by Rollin Groseclose | Sep 24, 2025 | Tax, Tax Consulting, Tax Watch
Update: On September 25, 2025, Denise Davis, Director of the IRS Taxpayer Services Division, provided additional details regarding the IRS’ transition to electronic payments for tax year 2025 filings. Key highlights include: Main focus: Shifting to electronic payments...
by Rollin Groseclose | Aug 29, 2025 | Business Consulting, Manufacturing & Distribution, Professional Services, Real Estate & Construction, Tax Consulting, Tax Watch
The 2025 Tax Act, commonly known as the One Big Beautiful Bill (OBBB), reinstated expensing of research and experimentation or development (R&D) costs. For the last three years, all taxpayers have been required to capitalize domestic R&D costs and amortize...
by Rollin Groseclose | Apr 22, 2025 | Business Consulting, Disaster Response & Incentive Advisory, NonProfit, Professional Services, Tax, Tax Watch
The IRS has extended federal tax filing and payment deadlines to September 25, 2025, for taxpayers in FEMA-designated disaster areas. Specifically, this relief is granted due to the lingering effects of Hurricane Helene. The previous postponement to May 1 has been...
