Tax Law News and Insights

What is student loan forgiveness? On August 24, President Biden announced a highly anticipated decision on student loan forgiveness.1 For individuals earning less than $125,000 ($250,000 for married couples), the U.S. Department of Education will provide up to $20,000 in debt cancellation to Pell Grant recipients and up to $10,000 to...

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Is your tax-exempt organization working on major construction or renovations on your property? Or considering purchasing new energy-efficient cars for your organization? If so, there is some good news for you. The Inflation Reduction Act of 2022 ("the Act"), signed by President Biden on August 16, 2022, includes a wide...

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Can You Go to Jail for Not Paying Your IRS Taxes? Taxpayers routinely ask me if they can go to jail for not paying their federal income taxes. Admittedly, the bar is not that high for felony tax evasion—the government must only prove three elements: (i) willfulness; (ii) the existence of...

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