September 8, 2023
How to Avoid the “BIG” Tax on S Corp Conversions
The BIG tax often catches business owners by surprise. Fortunately, however, you may be able to avoid adverse tax consequences with some astute planning.
Taxes September 6, 2023
Colorado Lawmakers Again Ask IRS: Don’t Tax TABOR Refunds
New IRS guidance marked the second time this year the agency raised the specter of subjecting state refunds to federal income tax.
Taxes September 6, 2023
How to Determine the Nature and Taxability of NFTs
Is the sale of an NFT subject to tax? Should it be? While lawmakers and tax officials worldwide have at least 91.8 million reasons to ensure tax laws account for sales of NFTs and other new tech, crafting tax policies for NFTs is difficult.
Taxes September 5, 2023
New Tech Automates Federal and State Compliance Tracking
Compliance Tracker ensures accurate and timely tax filings, reducing risk of non-compliance and penalties by incorporating trusted data compiled and maintained by Bloomberg Tax’s in-house tax analysts.
Taxes September 4, 2023
Beware the Accumulated Earnings Tax
The accumulated earnings tax must be paid in addition to the regular corporate income tax. Despite recent threats by Congress to raise the ante, this penalty tax remains at the 20% rate.
September 1, 2023
IRS Issues Guidance on State Tax Payments
The guidance is being issued as part of the IRS's efforts to provide additional certainty to states and their residents regarding the federal income tax consequences of state payments made to taxpayers.
Taxes September 1, 2023
IRS Gives Tax Filing Delay to Hurricane Idalia Victims
These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments.
Payroll August 30, 2023
Millions More U.S. Workers Could be Eligible for Overtime Pay
Under proposed changes from the Dept. of Labor, any salaried employee making less than $55,000 per year, or $1,059 per week, would be eligible for overtime. That would be a significant jump from the current cutoff at $35,568 per year.
Taxes August 29, 2023
Tax Court Case Shows IRS Effort to Revoke Passports for Tax Debt
Under the 2015 Fixing America’s Surface Transportation (FAST) Act, the IRS can deny, revoke or limit a passport if you have a seriously delinquent tax debt.
Taxes August 29, 2023
Treasury, IRS Formally Propose New Rules for Claiming Clean Energy Tax Credits
The proposed regulations include prevailing wage and registered apprenticeship requirements for clean energy projects.
Taxes August 28, 2023
TaxCure and Tax Rep Network Partner to Provide IRS Representation Education and Training
In addition to IRS representation training sessions, the partnership will enable tax professionals to explore adding new revenue streams to their practices with tax resolution services.
Taxes August 25, 2023
IRS Hiking Interest Rates on Oct. 1
The last time the agency increased interest rates on tax overpayments and underpayments was for Q1 of this year.