Taxes September 14, 2023
IRS Temporarily Stops Employee Retention Credit Processing
A rash of bogus ERC claims in recent months has prompted the IRS to put the program on hold through at least the end of 2023.
Taxes September 14, 2023
AICPA Releases Statement on IRS Announcement Concerning ERC Mills
The AICPA has provided resources and information to its members to warn their clients of red flags that could indicate that a vendor is dishonest and discourage ...
Taxes September 13, 2023
Georgia Taxpayers in 28 Counties Get Extension Due to Hurricane Idalia
Affected individuals and businesses will have until Feb. 15, 2024, to file returns and pay any taxes that were originally due during this period.
Taxes September 12, 2023
IRS Appeals 2022 Ruling in $11.5 Million Tax Dispute with Mayo Clinic
The question at the heart of the case is whether Mayo Clinic should be considered an educational institution for tax purposes.
Payroll September 12, 2023
Kansas Business Owner Pleads Guilty to $2.2 Million Employment Tax Scheme
A Kansas woman pleaded guilty on Sept 1, 2023, to willfully failing to account for and pay over employment taxes to the IRS.
September 12, 2023
How to Get a Tax Break for Temporary Work Assignments
The IRS often views business travel expense deductions with a healthy dose of skepticism. Consult with your professional tax advisor to ensure you’re on firm ground.
September 12, 2023
IRS Gives Guidance on New Corporate AMT
The guidance also provides general rules for determining a taxpayer's financial statement income and AFSI.
Taxes September 12, 2023
TaxDome Unveils IRS Integration for Streamlined Transcript Retrieval
This update allows TaxDome users to swiftly access IRS transcripts directly from their workspace, eliminating the need to navigate the IRS website.
Taxes September 12, 2023
IRS Releases Initial Guidance on Section 174 Amortization
Notice 2023-63 includes interim rules on the capitalization and amortization of specified research or experimental expenditures.
September 11, 2023
4 Ways to Deduct Commuting Costs from Taxes
To qualify for transportation deductions, you must be traveling away from your tax home to a business location.
Taxes September 8, 2023
Intuit Barred from Saying TurboTax is “Free,” Says Federal Judge
A judge has ruled that Intuit Inc., the maker of the popular TurboTax tax filing software, “engaged in deceptive advertising in violation of Section 5 of the FTC Act” and deceived consumers when it ran ads for “free” tax products and services for which many consumers were ineligible.
September 8, 2023
Year-End Moves for Flexible Spending Accounts
If your company doesn’t offer either option, try to empty out your account before January 1.