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
BEPS 2.0 Pillar Two – What Tax Teams Need To Succeed
Organizations should aim to remove inefficient and time-consuming processes associated with tax reporting, while empowering tax managers to collaborate with the executive team and prioritize strong policies.
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.
Small Business May 31, 2023
Bipartisan Bill in Ohio Would Legalize Recreational Marijuana
The Regulate Marijuana Like Alcohol coalition is gathering signatures across the state in hopes of qualifying for the November ballot. Ohio already has a medical marijuana program.
Taxes May 30, 2023
IRS Alerts Business Owners About ERC Scam
The agency says marketing fraudsters are misrepresenting and exaggerating who can qualify for the employee retention credit.
Accounting May 27, 2023
Biden and McCarthy Reach Tentative Debt Limit Deal
The deal struck Saturday night offers a lot for the two parties not to like, from expanded work requirements for food stamps opposed by Democrats to higher spending levels than conservatives demanded.
Taxes May 26, 2023
How to Be Prepared for an ERC Audit
The IRS is actively auditing and conducting criminal investigations related to these false claims. People need to think twice before claiming this.
Sales Tax May 26, 2023
Florida Adds New Sales Tax Holidays, But with a Bug
The Florida Legislature erred in including items eligible in two of the sales tax holidays, but that have different tax treatments.
Taxes May 24, 2023
TurboTax Settlement Checks from Intuit are Starting to Hit Mailboxes
The $141 million settlement stems from allegations that Intuit charged people for services that should have been free.
May 24, 2023
AICPA Endorses Legislation to Simplify Tax Filing Extension Process
The American Institute of CPAs (AICPA) has endorsed bipartisan legislation introduced by Representatives Judy Chu (D-CA) and Mike Carey (R-OH) to simplify the tax filing extension process.
Taxes May 24, 2023
IRS Has Done a Better Job Nipping Tax ID Theft in the Bud This Filing Season
As of March 2, the IRS flagged 1.1 million tax returns with $6.3 billion in refunds for potential identity fraud, said TIGTA in a new report.