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Last week, RubinBrown Partner Tony Nitti spoke on a panel that analyzed the new tax law, as well as the latest views about the law among taxpayers and journalists.

In response to the increasing number of massive data breaches over the last several years, the Colorado legislature passed new requirements for protecting the personal information of Colorado residents. The Colorado Protections for Consumer Data Privacy (HB18-1128) applies to public and private organizations that handle, process, store or otherwise have access to electronic or printed personally identifiable information (PII) of Colorado residents.

On January 17, 2019, the IRS delivered final regulations on one of the most complicated provisions of the new tax law, Section 199A, commonly referred to as the 20% pass-through deduction. The regulations provide clarity and much needed guidance on Section 199A that was enacted on December 22, 2017, as part of the Tax Cuts and Jobs Act. Along with the final regulations the IRS also issued two significant rulings; one allows a safe harbor for certain rental properties and the other a method of determining W-2 wages.

In January 2017, the Governmental Accounting Standards Board (GASB) issued Statement No. 84, Fiduciary Activities (Statement).  The requirements of the Statement are effective for reporting periods beginning after December 15, 2018 (i.e., December 31, 2019 year ends and fiscal years ending in 2020).
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