In this episode of "Issues of Interest," host Pat Morin sits down with Bryan Mulcahey, managing partner at FS Vector, to delve into the evolving landscape of FinTech and its impact on the banking industry. They explore how bank techs and embedded banking Fintechs are transforming financial services. Bryan shares insights on the advantages
The off again, on again changes in the “Beneficial Ownership Reporting” (BOI) filing requirements in the last few months are bordering on the absurd, and at the risk of being seen as the boy who cried wolf, your author and his well-used keyboard are here with another update to pass
Governor Healey released her fiscal year 2026 budget on January 22, 2025. Despite being portrayed as containing no new broad-based taxes on either individuals or businesses here in the Commonwealth, there are a number of tax-related proposals in the budget that we are monitoring. The tax-related proposals within the larger
In mid-December, President Biden signed the Federal Disaster Relief Act of 2023 into law. This legislation was passed by the House many months ago but passed by the Senate only a few weeks ago. It provides relief for taxpayers who experienced losses due to disasters dating back to December 2019,
On this episode of "Issues of Interest," Nick Smetana, tax manager, joins Leanne Scott, state and local tax principal, to discuss sales and use tax matters for banks and financial institutions. Discover why these often overlooked tax types are crucial, the importance of self-assessing use tax, and the impact of recent legislative
Executive Summary: Some partners have attempted to characterize their involvement with their partnerships as simultaneously “active” and “passive” to allow the passive portions of their overall incomes from the entity to escape self-employment taxes. Some recent and ongoing court cases may make those efforts more difficult or ultimately unsuccessful. A
Update as of 1/24/25: The U.S. Supreme Court ruled in the government’s favor (see point 6 below), but its ruling was limited to reversing the December 5 injunction. It was not asked, and did not reverse, the December 26 injunction, which remains in place. FinCEN’s website continues to indicate that