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With the One Big Beautiful Bill Act (OBBBA) now in place, what's next? Bergin Fisniku, leader of our National Tax Practice, shares the latest status on additional OBBBA guidance from the IRS and a quick update on tariffs in our latest Tax Thursday in Three.
The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change.
The IRS has extended tax deadlines to May 1, 2025, for individuals and businesses in areas affected by Hurricane Helene, including Alabama, Georgia, North Carolina, South Carolina, and parts of Florida, Tennessee, and Virginia. This relief provides significant benefits for real estate investors completing Section 1031 exchanges, offering extended deadlines for identifying and purchasing replacement properties.
A tentative agreement between the International Longshoremen's Association (ILA) and the US Maritime Alliance (USMX) ended a two-day strike, averting a potential $5 billion economic impact. While supply chain disruptions were minimal, this event underscores the importance of proactive risk management, inventory buffers, and diversified logistics strategies to mitigate future disruptions.
AI is transforming industries by enhancing efficiency, decision-making, and innovation across sectors like healthcare, finance, manufacturing, and retail. As businesses adapt to AI-driven advancements, they must navigate challenges like data privacy and ethical considerations while leveraging AI’s potential to drive growth and competitive advantage.
