On July 4, 2025, President Donald J. Trump signed the One Big Beautiful Bill (OBBB) into law, marking the most extensive changes to the federal tax code since 2017. The new law touches nearly every aspect of the tax system, impacting estate planning, business deductions, personal income tax rules, and international compliance. While many provisions […]
The IRS has announced its annual inflation adjustments for the 2025 tax year, bringing significant changes to tax brackets, deductions, and credits. These updates are designed to help taxpayers manage the impact of inflation and prevent “bracket creep,” where individuals end up in higher tax brackets despite only keeping pace with rising costs. Here’s an […]
Receiving a notice from the Internal Revenue Service (IRS) that you’re being audited can be an alarming experience, triggering anxiety and uncertainty. However, it’s crucial to approach this situation with a level head and take the necessary steps to ensure a smooth resolution. In this article, we’ll guide you through the key actions you should […]
The decision to engage legal counsel is a critical choice for businesses, and options extend beyond the binary choice of in-house counsel and outside general counsel. In-house counsel refers to legal professionals employed directly by a company, offering dedicated legal support and an intimate understanding of the organization’s inner workings. Conversely, outside general counsel entails […]
Many business owners are busy juggling the day-to-day demands of running a business. These same business owners often face legal challenges that require strategic thinking and take their focus away from running the business. While some larger corporations have the luxury of an in-house legal team to handle all of their legal issues, many businesses, […]
Receiving a notice from the Internal Revenue Service (IRS) can be a source of stress and confusion for individuals and businesses. These notices, often filled with complex language and intricate legal details, can have significant implications for your financial well-being. That’s where a tax attorney comes in. Enlisting the expertise of a tax attorney to […]
A tax deficiency, as recognized by the Internal Revenue Service (IRS), is a discrepancy between the amount of taxes you have reported on your return and what the IRS calculates you owe. This discrepancy often arises when the income you reported on your tax return differs from the income reported to the IRS by your […]
Our Widerman Malek team is focused on explaining issues pertaining to tax, bankruptcy, wealth transfer and preservation, as well as trusts and estates in plain language. Today, the focus is on President-elect Biden’s tax proposals and the potential comprehensive changes. Given the possible impacts, we are urging our clients and friends to contact us now. […]
August is approaching, and along with everything else that is currently impacting our lives, that means your local property appraiser will be mailing out proposed property taxes (TRIM Notice). Last year, I wrote an article about the process for challenging the property value appraisal of your property before the Value Adjustment Board. Last month, the […]
