Taxes June 14, 2023
Tax Curve Ahead for Business Vehicle Owners
Make sure you keep business use above the 50% level. In addition, maintain all the driving records required by the IRS.
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Taxes June 13, 2023
Foreign Intrigue on Taxable Income
A self-employed individual may claim the foreign earned income exclusion on foreign earned self-employment income.
Small Business June 13, 2023
Business Owners’ ERC Payouts Could Take Up to 160 Days, IRS Says
Small business owners are seeing delays drag out for months for the employee retention credit tax claims they've submitted.
Taxes June 13, 2023
IRS is Going After NIL Collectives’ Tax-Exempt Donations
An IRS memo says the name, image and likeness benefits provided to college athletes serve their private interests, not the public's interests.
Taxes June 12, 2023
Corporations Get a Reprieve From the IRS on New CAMT
The IRS waived penalties for corporations that didn't pay their estimated tax liability under the corporate alternative minimum tax.
Taxes June 9, 2023
AICPA Expresses Strong Support for Bicameral Disaster Tax Relief Legislation
The process for receiving tax filing relief from the IRS during a natural disaster can be overwhelming.
Taxes June 8, 2023
U.S., U.K. Begin Talks on Critical Minerals Agreement for EV Tax Credits
A critical minerals trade deal would allow U.K. businesses to benefit from incentives passed through the Inflation Reduction Act.
Small Business June 8, 2023
House Ways and Means Passes Bill on Easing ACA Reporting Requirements
The Employer Reporting Improvement Act would make it easier for businesses to comply with the Affordable Care Act.
Taxes June 8, 2023
A New Approach to Make Next Tax Season Go More Smoothly
Accounting firms that embrace these technologies will be able to stay ahead of their competition and provide their clients with the highest quality services.
Taxes June 6, 2023
IRS Budget Battle Far From Over After Debt Ceiling Pact
Even with the recent IRS funding cuts, Republicans want to slash even more, setting up an appropriations fight with Democrats.
Taxes June 1, 2023
IRS Proposes Rules on Energy Projects for Low-Income Areas
A program established by the Inflation Reduction Act incentivizes solar and wind power in certain low-income communities.
Taxes June 1, 2023
IRS, Treasury Provide More Guidance for Advanced Energy Project Credit
The qualifying advanced energy project credit program was re-established last year by the Inflation Reduction Act.