WHY ADDING A CHILD AS A JOINT OWNER MAY NOT BE A GOOD IDEA
January 17, 2024
by Casey Dorman Lawson
Individuals are often interested in ways to transfer their assets at death without having those assets go through a probate proceeding. Those same individuals are also often interested in accomplishing this without having to visit an attorney or execute a Will or a Trust. Thus, this leads many…
Business Owner Alert: Corporate Transparency Act Requires New Ownership Reporting in 2024 and Beyond
January 11, 2024
by Craig R. Cockrell
It has been many years in the making, but the effective date of the Corporate Transparency Act (the “CTA”) is finally here. The CTA, enacted in 2021, is designed to prevent money laundering and other unlawful activity through the use of business entities to conceal identities. As of January 1…
Estate Planning in Arkansas: Significance of Wills and Trusts
In Arkansas, estate planning is vital. By understanding the tools at residents’ disposal, such as wills and trusts, Arkansans can ensure the security of their assets, provide for their loved ones, and leave a lasting legacy for generations to come. The Importance of Estate Planning Estate planning…
High Interest Rates May Be Troubling for Issuers of Tax-Exempt Bonds
October 27, 2023
by Ashley Edwards
Over the past year and half, interest rates have increased significantly. For most investors, the increase in interest rates is welcome. But for issuers of tax-exempt bonds, or cities, states and other qualifying governmental entities, the rise in interest rates may be a cause for concern. Under…
IRS Issues Alert Analyzing When Circular 230 Applies to In-House Tax Professionals
The IRS Office of Professional Responsibility (“OPR”) has exclusive authority to administer and enforce Circular 230 (“Circ. 230”), the Regulations Governing Practice before the Internal Revenue Service. (31 C.F.R. Subtitle A, Part 10). On June 15, 2023, OPR issued Alert 2023-04, noting that…