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Navigating State Income Tax Apportionment by Entity Type
The One Big Beautiful Bill Act: Tax Provisions
Business-Held Real Property Drop-and-Swaps and Other 1031 Exchange Matters
New York’s Convenience Rule Continues to Be Tested—The Zelinsky Case
R&D Credits After OBBBA

Latest Articles

  • Navigating State Income Tax Apportionment by Entity Type

    By:
    Karin Ecroyd, CPA and Alysse McLoughlin, Esq.
    |
    Feb 1, 2026
    State income tax apportionment remains a complex and evolving area, especially as states refine their approaches for various entity types and types of income. This article outlines key principles of income characterization, evolving apportionment and sourcing methods, and highlights both uniform and divergent state approaches in the taxation of different types of entities. 

  • Business-Held Real Property Drop-and-Swaps and Other 1031 Exchange Matters

    By:
    Raymond L. Liebman, Esq., CPA
    |
    Feb 1, 2026

    Section 1031 of the Internal Revenue Code of 1986 generally provides that no gain or loss is recognized when property held for productive use in trade or business or for investment is exchanged solely for like-kind property to be held for the same purpose. Over the years, litigation has focused on whether a taxpayer held the relinquished property and intended to hold the replacement property for productive use in a trade or business or investment.

  • R&D Credits After OBBBA: How CPA Firms Should Handle Prior-Year Filings and Current-Year Claims

    By:
    Alexander Lee, CPA
    |
    Feb 1, 2026

    With the One Big Beautiful Bill Act (OBBBA) came IRC section 174A, restoring current deductibility for domestic research and experimental (R&E) expenditures for tax years beginning after Dec. 31, 2024. This change reversed the mandatory capitalization and amortization regime that applied to domestic R&E beginning in 2022 under IRC section 174.

  • Lifetime Gifts and Testamentary Transfers by US Grantors to Non-Citizens

    By:
    Gary Forster, JD, LLM
    |
    Dec 1, 2025
    The US estate and gift tax is imposed on lifetime gifts and the “gross estate” of US citizens and domiciliaries (residents who intend to stay in the US indefinitely). The gross estate of a US person includes “the value at the time of death of all property, real or personal, tangible or intangible, wherever situated.” The estate and gift taxes attach to all assets regardless of the location of the US citizen or resident (or his property) at the time of gift or death.

  • The Psychology of Estate Planning

    By:
    Elizabeth Forspan, Esq.
    |
    Dec 1, 2025

    Estate planning is often viewed through a purely legal or financial lens, but the associated emotional and psychological dimensions are just as critical. Understanding why people avoid planning, and how to guide them through the relational complexities, is critical for professionals in the fields of Trusts, Estates, and Elder Care Planning. This article explores the psychological barriers to estate planning and offers strategies to overcome them.

  • New York’s Convenience Rule Continues to Be Tested—The Zelinsky Case

    By:
    Brian Gordon, CPA
    |
    Nov 1, 2025
    This article addresses the most recent challenge to the New York State Tax Department’s rule, which we refer to as “The Convenience Rule” in the Matter of Edward A. and Doris Zelinsky for the tax years 2019 and 2020.

  • Qualified Small Business Stock (QSBS): A Powerful Tax Break

    By:
    Andrew S. Katzenberg, JD, LLM, and Miguelina Mercedes, JD
    |
    Nov 1, 2025
    Few provisions of the Internal Revenue Code (the "Code") are as generous as the rules under section 1202 governing "qualified small business stock," most commonly known as QSBS. Designed to encourage investment in start-ups, section 1202 permits capital gain exclusion on all or a portion of the sale proceeds of QSBS in C corporations.

  • IRS Form 990: What Executives And the Board Should Evaluate

    By:
    By Zachary Segal, MST and Lori Rothe Yokobosky, MST
    |
    Nov 1, 2025
    While the IRS Form 990, “Return of Organization Exempt from Income Tax,” is often viewed as a routine compliance requirement, its impact and audience reach far beyond tax reporting and the IRS. For nonprofit organizations, this form can serve as a powerful public-facing tool that shapes perceptions of governance, transparency, and financial stewardship. 

  • As State Payroll Deduction IRA Mandates Take Effect, Enhanced Federal Tax Credits Can Facilitate Employer-Sponsored Retirement Plan Exemption

    By:
    Andrew E. Roth, JD, LLM (taxation), and Mark T. Hamilton, JD, LLM (taxation)
    |
    Oct 1, 2025
    Many states have enacted or are in the process of enacting or implementing legislation requiring employers to facilitate their employees’ enrollment in state-sponsored payroll deduction individual retirement account (IRA) programs.

  • Coast-to-Coast Tax Residency: New York & California Case Studies

    By:
    Daniel P. Kelly & Joseph F. Tantillo, Esq.
    |
    Oct 1, 2025
    In the August 2025 TaxStringer, we examined the tax residency rules for California and New York. The publication detailed the California and New York income tax residency tests, exceptions to the primary rules, presumptions of residency, and residency safe harbors, as well as key factors and actions affecting tax residency in New York and California, and other relevant considerations. We also surveyed income tax residency rules across the United States.
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Tax Cases
  

In Case You Missed It – January/February 2026

Tax Jokes
  

Why do shady accountants make bad chefs? They try cooking the books.
 
https://parade.com/1317763/jessicasager/accounting-jokes/

IRS Opens 2026 Filing Season,Internal Revenue Service

Mamdani Signals Tax Policy Will Be Central To Budget Negotiations,The Trusted Professional

Treasury, IRS issue FAQs to Address the New Deduction for Qualified Overtime Compensation Under the One, Big, Beautiful Bill, Internal Revenue Service

Treasury, IRS Provide New Safe Harbor Explanations for Retirement Plan Administrators, Internal Revenue Service

Treasury, IRS Issue Guidance on the Additional First Year Depreciation Deduction Amended as Part of the One, Big, Beautiful Bill, Internal Revenue Service

IRS Updates Frequently Asked Questions on the Premium Tax Credit, Internal Revenue Service

Treasury, IRS Provide Guidance on New Tax Benefits for Health Savings Account Participants Under the One, Big, Beautiful Bill, Internal Revenue Service

Funding Cuts to IRS Draw Criticism From Advisory Council,The Trusted Professional

IRS Releases Additional Guidance on Overtime Deduction,The Trusted Professional

IRS Issues Frequently Asked Questions about Executive Order 14247: Modernizing Payments To and from America’s Bank Account, Internal Revenue Service

*Outside the Box is a new addition to the TaxStringer featuring important articles on financial and investment management topics by top authors who have expertise both inside and outside the realm of taxation.

 

 

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Views expressed in articles published in Tax Stringer are the authors' only and are not to be attributed to the publication, its editors, the NYSSCPA or FAE, or their directors, officers, or employees, unless expressly so stated. Articles contain information believed by the authors to be accurate, but the publisher, editors and authors are not engaged in redering legal, accounting or other professional services. If specific professional advice or assistance is required, the services of a competent professional should be sought.