On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.
IRS releases inflation adjustments for 2023. Inflation adjustments impact individual tax brackets and other various provisions of the Code.
The Inflation Reduction Act of 2022 imposed a new 15% alternative minimum tax on large corporations. Notably, the tax is based on a corporation’s financial statement income (with adjustments).
The IRS provides some relief amid rising gas prices with an optional increase to the standard mileage rate for business travel.
How will the new Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations, impact tax filings for family offices and other taxpayers?
The tax policy landscape in Washington remains unsettled as we approach the summer months, while inflation remains the dominant economic issue. Within the context, we look at what's currently on the legislative agenda for Congress.
Executive Order provides an outline for next steps related to guidance and regulation in the digital asset space.
IRS: Website that connects lessors to lessees is a “brokerage service,” shareholder not eligible for section 1202 capital gain exclusion.
The IRS is tackling identity theft by using ID.me verification technology to guard access to online services.
National Taxpayer Advocate, Erin Collins, recommends the IRS pause automated collection notices. Congress may consider the recommendation.
The Taxpayer Advocate Service highlighted 10 major IRS problems affecting taxpayers and made several recommendations to mitigate the issues.
Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week.
The IRS foresees better phone service for taxpayers by hiring more than 1,000 new phone assisters across all call lines.
Several provisions would tighten IRA rules for high-income individuals, and some other changes apply regardless of income level.
What are the proposed tax changes affecting individual taxpayers and what should you consider today to limit your exposure to these changes?
House Ways and Means issues its discussion draft amendment with revenue items to offset $3.5 trillion spending package.