Taxes
IRS Disallows 20,000 ERC Tax Refund Claims As Enforcement Tightens
As part of continuing efforts to combat dubious Employee Retention Credit (ERC) claims, the Internal Revenue Service is sending an initial round of more than…
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How Working From Home Helped Push WeWork Into Bankruptcy
WeWork’s collapse shows how working from home is changing commercial real estate and compounding the sector’s economic challenges. Once hailed…
As 2024 Approaches, Are You Ready For The Corporate Transparency Act?
Seven years ago, the legal and financial worlds were rocked by the release of the Panama Papers—11.5 million confidential documents…
The Tax Man Comes For Fast Fashion
First, the tax authorities targeted soda, plastics, and hazardous chemicals with excise taxes. Now they’re coming for fast-fashion companies like…
IRS Announces More FBAR Examinations In 2024
The IRS received a significant increase in operating funds after Congress passed the Inflation Reduction Act (IRA) in mid-2022. More…
Tax Court Stops Short On Finding Fraud Against IRS Employee
Since the birth of the U.S. tax system more than a century ago, taxpayers have made purposeful attempts to avoid…
IRS Updates Penalty Amounts For Late Returns, Missed Forms In 2024
The IRS has announced the annual inflation adjustments for the year 2024. That includes not only tax rate schedules, tax…
IRS Announces 2024 Tax Brackets, Standard Deductions And Other Inflation Adjustments
The IRS has announced the annual inflation adjustments for the year 2024, including tax rate schedules, tax tables and cost-of-living…
Kraken To Release Account Data For Certain Crypto Clients To IRS
Cryptocurrency exchange Kraken has notified clients that the company will turn over user information to the IRS. The announcement follows…
Limited Partner Exception To SECA Taxes: Long Road To Current Battles
Introduction Most compensation earned by taxpayers is subject to employment taxes. When it comes to sole proprietors, independent contractors, and…
Which Corporations Pay The Most Federal Income Tax?
Corporations report their total cash payments of income tax — federal, state, and foreign combined — but they don't identify,…
Retirement Saving: 2024 IRS Limits On Qualified 401(k) Plans Affect Nonqualified Plans
The IRS just released the 2024 contribution limits on qualified retirement plans, such as your 401(k). That’s crucial info for…
Navigating New Guidance On The Corporate Alternative Minimum Tax
Mike Resnick of Eversheds Sutherland discusses the effects on taxpayers of the corporate alternative minimum tax and its recently released…
Social Security Admits Its Website Has Been Providing Crazy Estimates
In this October 20th Forbes column, I claimed that Social Security’s website was projecting lower benefits for worker than it…
IRS Releases Legal Memo Focused On ERC And Workplace Safety Guidelines
Weeks after the IRS announced a moratorium on processing new Employee Retention Credit (ERC) claims, the IRS has issued more…
Lawmakers Should Stay Out Of Microsoft Tax Dispute
Even legislators with a keen interest in protecting the U.S. corporate tax base from profit shifting should probably resist the…
6 Strategies That Can Help You Avoid Year End Tax Bracket Creep
Wage increases are generally a great thing, but the added benefit of an income increase can be offset by the…
Tax Insurance: Reducing Some Risks While Creating Others?
Introduction Taxpayers, like all people, are risk averse for the most part; they want to avoid financial uncertainty to the…
What Is Nikki Haley’s Tax And Budget Platform?
Former South Carolina Governor Nikki Haley, who appears to be winning increasing support among Republicans in the race for her…