IEEPA Tariff Refunds: What Is the Government Actually Doing? A federal court just asked U.S. Customs some very pointed questions. The answers should matter to every importer who paid IEEPA duties. A Quick Refresher On February 20, 2026, the U.S. Supreme Court issued a landmark ruling in Learning Resources, Inc. v. Trump, striking down tariffs […]
On February 24, 2026, GC Consultants hosted a professional seminar at Assolombarda — the leading association representing businesses in the Milan area — as part of its commitment to keeping the Italian business community informed on U.S. tax developments. Giuseppe Brusa, CPA and Mina Gwargious, EA, joined Maurizio Bottoni, Dottore Commercialista, to present the latest […]
Significant Development in U.S. Trade Policy Before Supreme Cout Ruling Update on SCOTUS Decision Regarding IEEPA Tariffs and Recommended Actions for Importers The legality of the reciprocal and fentanylrelated tariffs imposed under the International Emergency Economic Powers Act (IEEPA) has been under review by the Supreme Court of the United States (SCOTUS). Many importers have […]
Navigating the New U.S. Tax Landscape: Insights for Italian Companies U.S. tax rules are changing — and the implications for Italian companies investing in America are significant. Join Giuseppe Brusa and Mina Gwargious of G.C. Consultants for a free webinar covering depreciation elections, R&D expenses, multi-state tax differences, and transfer pricing compliance. Live Q&A included. […]
New California Tax Legislation: What You Need to Know Do you have a company or conduct business in California? Then this new change potentially affects you! Net Operating Losses (NOLs) Suspension: California has enacted legislation suspending the use of net operating losses (NOLs) for taxpayers with net business income of $1 million or more for […]
WASHINGTON––Consistent with the U.S. Department of the Treasury’s March 2, 2025 announcement, the Financial Crimes Enforcement Network (FinCEN) is issuing an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act. In that interim final rule, FinCEN revises the definition of “reporting […]
The proposed budget for the 2024 fiscal year has been released by President Biden. Many of the proposed changes would affect employers and employees. EY recently published a document highlighting some key points in the President’s proposal. If you would prefer to take a deeper look at the budget, you can check the White House’s […]
File FBARs with your returns? The latest determination from the Supreme Court put a limit on the penalties for taxpayers with foreign accounts who non-willlfully failed to file their FBARs. In the article below, written by Sarah Constantine Jonathan E. Green Cara M. Koss James P. Joseph Rebecca L. D. Gordon and Alex S. Tepler, […]
One of the main goals for a taxpayer is to increase his revenue. Two of the main areas, for a business to achieve this, are to expand its customer base into various states and to provide customer service. This could mean that the taxpayer might perform various kinds of transactions to expand the business’ influence […]
Have you been looking to sell your investments? Are you aware that you could defer part, or all, of the gain by exchanging your investment with a similar one? The Internal Revenue Service (IRS) provides a benefit, known as Section 1031 – Like-kind Exchanges, for taxpayers that reinvest proceeds from selling certain kinds of investment […]
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