IRS to provide automatic penalty relief to eligible taxpayers
The IRS recently announced that taxpayers will receive penalty relief for failure to pay penalties incurred in tax years 2020 and 2021.
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IRS releases 2024 retirement plan limitations
Cost-of-living adjustments to retirement plan limits for 2024 have been issued by the IRS in Notice 2023-75.
U.S. charitable donations fell last year
Donations to charity fell to $499 billion last year, a 3.4% decrease from 2021.
IRS makes statements on CARES Act Employee Retention Tax Credit risks
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.
Strategies for streamlining the grant management process
Careful grant management planning can help organizations reduce paperwork, save time, ensure compliance and lead to increased grant awards.
Guidance issued for employers claiming the Employee Retention Credit
Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions.
Employee retention tax credit significantly expanded for 2021
The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.