Address ERC Backlog, Taxpayer Advocate Urges
The IRS should substantially increase the number of employee retention credit claims it processes in order to help businesses with legitimate claims, National Taxpayer Advocate Erin Collins said.
Staffing Hurdles Could Slow Impact of IRS Audit Boost
The Internal Revenue Service’s intended ramping up of enforcement on wealthy people, large corporations and complex partnerships may not have a meaningful impact in the short term because of challenges in hiring and training people to do the work.
Megaphone philanthropy
The line between charity and politics can be extraordinarily blurry. This is problematic, as politics is inherently quarrelsome and divisive, and these are words that very few would use to describe charity.
IRS is expanding its free filing program. Here’s what that means for taxpayers.
During a pilot phase this spring, 140,000 participants received a total of $90 million in refunds. Nine in 10 users rated the software as “excellent” or “above average,” according to a government survey.
IRS uses AI to close the tax gap
The Internal Revenue Service announced in March that its compliance efforts related to the Employee Retention Credit had exceeded $1 billion, with the agency specifying that “more than 12,000 entities filed over 22,000 claims that were improper and resulted in $572 million in assessments.”
Do businesses take aggressive tax positions when IRS budget declines?
Companies take IRS budgets into consideration when developing their year-to-year tax strategies and take more aggressive tax positions when IRS budgets are smaller, and retreat to less risky tax positions when IRS budgets are higher, according to a new study.
What’s Next for ERC Refund Claims Pending with the IRS?
The latest IRS data shows that it had 1,057,000 unprocessed Forms 941-X as of December 9, 2023. Most of those forms are likely Employee Retention Credit (ERC) refund claims.
An Underutilized Resource for Boiler Manufacturers: The R&D Tax Credit
Taxes represent a large sunk cost for boiler manufacturers, but the R&D tax credit offers savings. Boilers are indispensable to much of the American economy, ranging in application from electricity generation to food processing…
Ronald McDonald House Charities of Northeast Kansas Hosted Dinner & Trivia Night for its Residents
Ronald McDonald House Charities of Northeast Kansas recently hosted a dinner and trivia night for families staying at the Ronald McDonald House in Topeka, Kansas.
Decoding the Farm Bill & Unlocking R&D Potential
What can you expect to learn from this episode? Farm Bill Dynamics: Insights into political debates and budget priorities affecting agriculture.