Taxes January 9, 2023
Congress Wants a Refund: Votes to Delete Most of $80 Billion Boost in IRS Funding
The bill had been a 2022 campaign priority for most GOP Congressional candidates, but to take effect, it would need to next pass in the ...
Taxes January 9, 2023
How to Prepare for the Corporate Minimum Tax
A corporate alternative minimum tax (CAMT) will apply to certain corporations reporting more than $1 billion in annual adjusted book income averaged over a three-year period...
Taxes January 9, 2023
IRS Corrected 14 Million Tax Returns with Average Refund of $1,232
Many of the 12 million refunds come from a change in the way unemployment insurance was taxed.
Taxes January 9, 2023
Rescinding IRS Funding Among the Many Bills House Majority is Itching to Pass
The first bill in the GOP package aims to rescind the increased funding for the IRS in the Inflation Reduction Act.
Taxes January 8, 2023
Help Your Startup Clients Avoid These 7 Tax Mistakes
As trusted advisors, CPAs have the knowledge and expertise to provide our clients with accurate and timely advice on a wide range of tax and financial matters.
Taxes January 6, 2023
11 Men Indicted in Multimillion-Dollar Sports Betting Ring Tax Evasion Case
The sports betting organization they managed evaded tens of millions of dollars in excise taxes for three years.
Taxes January 5, 2023
IRS Audits Dropped Slightly in 2022
Low-income wage-earners taking the earned income tax credit had a higher-than-expected audit rate, report says.
Taxes January 5, 2023
Here Are IRS-CI’s Top 10 Cases of 2022
These cases include IRS Criminal Investigation’s most prominent and high-profile investigations in the past year.
Taxes January 3, 2023
IRS, Treasury Update Guidance on Accounting Methods for Specified R&E Expenditures
Revenue Procedure 2023-11 outlines how companies should comply with changes made by the Tax Cuts and Jobs Act.
Taxes January 3, 2023
New Retirement Rule Delaying Withdrawals Could Bite
There are some potential advantages for wealthy retirees, but they don’t come without potential trade-offs.
Taxes December 30, 2022
Do You Need A Charitable Appraisal? 2023 Tax Tips
The appraisal rules don’t apply to donations of publicly traded securities. Use the quoted market price to determine the FMV of the securities. This takes a lot of the guesswork out of the deduction.
Taxes December 30, 2022
Adoption Tax Credit Provides Valuable Benefit
The adoption credit is indexed annually by the IRS. Due to the rising inflation of late, the figures have jumped dramatically.