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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The IRS Admits Race Disparity In Their Audit Selection
For decades, the idea of being subjected to an Internal Revenue Service (IRS) audit has inspired fear in the minds…
4 Biggest Tax Strategies You Need To Implement Now As A Successful Business Owner
Most people are looking through the rearview mirror when it comes to taxes. They file their taxes once a year,…
Comments Question Tax Book Value Remittance Rule
Taxpayer comments on the revisions to reg. section 1.861-20 in new proposed regs question rules that require using asset tax…
Debt Ceiling Agreement Lifts Student Loan Pause, Cuts Some IRS Funding
After a few days of speculation about the debt ceiling agreement between President Joe Biden and House Speaker Kevin McCarthy,…
Tax Considerations For Gold Star Families
I write this article on the somber weekend of the Memorial Day Holiday. With the significance of honoring the fallen,…
Year-Round Tips For Businesses To Prepare For The Inevitable IRS Audit
As an attorney that assists clients with audits, I see simple mistakes turn into huge problems. If you own a…
The “Legacy IRA” Has Finally Arrived
Effective January 1, 2023 if you are age 70-1/2 or older, you can distribute up to $50,000 from your traditional…
Empowering Charities With ChatGPT: Guiding Donors Towards Effective Giving
In the ever-evolving landscape of philanthropy, charities must adapt to new technologies to better engage with donors and support their…
Private Businesses Reach Their Tipping Point Over Increased Tax Bills
The frustration of business owners with their federal income tax payments is palpable. Though no major tax legislation has recently…
Dealer’s Choice: The Debt Ceiling’s Tax Fallout
Tax Notes contributing editors Robert Goulder and Joseph J. Thorndike examine the looming debt ceiling crisis and its likely effect…
State’s Victory: An Update On Maryland’s Digital Advertising Tax
Tax Notes reporter Andrea Muse provides an update on the state and federal lawsuits challenging Maryland’s digital advertising tax. This…
ICYMI: A Guide To Stock Comp Abbreviations
As if texting shorthand wasn’t confusing enough (IKR?), when you have stock options, restricted stock units, or an employee stock…
IRS Processing Updates Include Up To 20-Week Wait For Amended Tax Returns
Are you still waiting to hear something from the IRS about the status of your tax return? The agency recently…
How Much Should You Be Saving?
This is an extremely tough question to answer on your own. The number of major, interconnected factors includes your retirement…
Fixing Section 482 After The Tax Cuts And Jobs Act: Suggestions For The Next Revision
It will probably be a long time before Congress redrafts section 482, but it’s never too early to propose improvements…
District Court Tosses Interesting Likely Frivolous Tax Argument Out On Standing
Last week I told you about alternative tax thinker Brian Swanson. Others might call Brian a tax protester, which is…
Congress Says You Can Delay IRA Distributions, But It’s A Tax Trap
Congress expanded a tax trap for many owners of traditional IRA and 401(k) accounts when the SECURE Act 2.0 was…
As Companies Reduce Remote Work, Tension With Employees Persists
More than three years after the COVID-19 pandemic started, returning to the office versus working from home still hasn’t settled…