Employee Retention Credit – Taxpayers And The March 22nd Deadline
Congress giveth and Congress taketh. Congress (and especially the Senate) will soon consider the House-passed Tax Relief for American Families and Workers Act.
Breaking News from Capitol Hill: Is There Finally a Fix for Section 174?
With a rumored solution for 174 amortizations, the R&D tax credit could put cash back into businesses’ pockets before the next deadline. ERC is coming to an end, but the…
Taxpayers Concerned About Fraudulent ERC Claims Must Act Now
While Covid-19 relief appropriations pulled many businesses from the brink of demise, an onslaught of associated fraud has come to the surface, especially regarding claims for the employee retention credit.
IRS rejects claims from 20,000 taxpayers for lucrative small business tax credit
The IRS is taking action against small businesses that improperly filed returns claiming a lucrative pandemic-era tax credit.
The New IRS Withdrawal Process for Ineligible ERC Claims
Filing corporate tax returns can be a complex and time-consuming process for businesses. Mistakes can happen, leading to missed opportunities for tax incentives and credits. Fortunately
IRS Warns Employers About This One Tactic to Claim Pandemic Tax Credit
The IRS today announced a withdrawal process for business owners/tax-exempt managers from their Employee Retention Credit (ERC) claims. The IRS has been taking a hard eye at ERC filings given
National Taxpayer Advocate Objectives Report Highlights Improved IRS Processing Numbers
The National Taxpayer Advocate (“NTA”) is required to submit a report to Congress by June 30 of every year pursuant to Code Sec. 7803(c)(B)(i).
Amending Corporate Tax Returns with Form 1120X
Filing corporate tax returns can be a complex and time-consuming process for businesses. Mistakes can happen, leading to missed opportunities for tax incentives and credits. Fortunately
What comes next in the IRS’s ERC withdrawal process?
The Internal Revenue Service is providing a way for businesses to withdraw incorrect claims for the Employee Retention Credit if they haven’t been paid yet,
Top Tax Myths Surrounding Non-profit Organizations
Non-profits are an integral part of our society, but they often face a lot of misinformation when it comes to tax obligations.