Insights

As of August 11, 2026 the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act.

Most nonprofits that lose their exempt status do so because they fail to file Form 990s for three consecutive years. Automatic revocations are common, particularly with newer nonprofits. Fortunately, it’s possible to regain a tax-exempt status.

Intercompany lending is common among related entities but can lead to unintended tax consequences if not properly structured and documented.

Tax Tip: Beginning in 2026, personal casualty loss deductions are no longer limited to federally declared disasters.

Dynasty trusts can offer a strategic way to preserve family wealth while minimizing gift, estate and generation-skipping transfer taxes. With the federal exemption now at historically high levels, these trusts can be especially powerful.

Recently, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2025-05, which addresses the measurement of credit losses for short-term receivables and contract assets.

For a fifth year, the team at Meyers Brothers Kalicka, P.C. joined United Way of Pioneer Valley to gather school and classroom supplies for children and teachers.

Becoming a new parent is life-changing in many ways, and your tax situation is no exception. While sleepless nights and new routines often take center stage, there are tax breaks that potentially can ease some of the financial strain of raising a family.