GHJ previously discussed federal tax filing relief for California storm victims. While many California taxpayers received filing and payment deadline extensions, the IRS is still sending statutorily mandated notices that claim there is a balance due. The IRS and FTB have released statements to reassure California taxpayers that they continue to have automatic extens [...]

Colorado made a change to its pass-through entity (PTE) tax regime. Taxpayers may now have an opportunity to amend prior year tax returns to take advantage of the Colorado PTE. BACKGROUND In 2021, Colorado enacted the SALT Parity Act for income tax years commencing on or after Jan. 1, 2022 that allows PTEs to elect to pay state income tax at the entity level and cla [...]

On this episode of the Business Disruption and Resilience Podcast, GHJ Food and Beverage Expert and Guest Host Elad Menna is joined by D’vash Organics President and Co-founder David Czinn. Elad and David discuss what consumer packaged goods companies should know when working with retail, managing their margins and planning for success.D'vash Organics sells healthy swe [...]

On March 29, 2023, the IRS issued Revenue Ruling 2023-2, which addresses an unsettled topic related to assets owned by an irrevocable grantor trust. Assets transferred to an irrevocable grantor trust are treated as a completed gift for estate and gift tax purposes but an incomplete gift for income tax purposes. Until now, the IRS has not provided guidance on whether [...]

In this episode of the Media Clips Podcast, GHJ Profit Participation Services Practice Leader Ilan Haimoff welcomes back USC Professor and Director of USC Annenberg’s Center for the Digital Future Dr. Jeff Cole to examine the state of media. Ilan and Jeff discuss the looming WGA strike, shifts in the streaming market, the rise of alternative profit participation m [...]

This year, GHJ brought together experts Cameron Dayne (Fifth Third Bank), Stephen Cheung (Los Angeles County Economic Development Corporation) and Rachel Foltz (Endeavour Capital) for an Economic Outlook discussion.The panel, moderated by GHJ Business Resiliency Task Force Leader David Sutton, led a lively discussion about inflation, supply chain and other factors aff [...]

As many continue to debate whether a recession is coming or a soft landing, Business Disruption and Resilience Podcast Host David Sutton welcomes back Chip Hoebeke, Director of Consulting for Rehmann as well as the Director of Rehmann’s Turnaround, Restructuring and Insolvency Practice. Chip has worked with many companies going through financial challenges and sha [...]

Silicon Valley Bank, First Republic Bank and Credit Suisse continue to make headlines and have become a cause of concern for many businesses. Are these instances a flash in the pan or a warning sign for a storm ahead? On the Business Disruption and Resilience Podcast, GHJ Private Equity Practice Leader and Host David Sutton spoke to Fifth Third Bank Managing Direc [...]

On March 24, 2023, Washington Supreme Court ruled that the state’s excise tax on capital gains is constitutional and reversed the decision of the Douglas County Superior Court after determining that the capital gains tax is appropriately characterized as a lawful excise tax because it is levied on the sale or exchange of capital assets rather than the capital assets o [...]

The Internal Revenue Service (IRS) announced that it is extending the due date for certain New York tax returns to May 15, 2023. This extension applies to individuals, businesses and trusts that were impacted by the December 2022 winter storm that caused significant damage and disruptions throughout the state. The IRS is providing tax relief to those who were impact [...]