Workcations May Cause You Additional Tax Headaches
As remote-working blurs the lines between work, residency, and time off, national tax authorities and the Organization for Economic...
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- Mar 17
IRS Urges Taxpayers to Beware of W-2 Scams
The Internal Revenue Service is cautioning taxpayers to beware of a new scam involving Form W-2. Fraudsters are urging people to use wage...
- Mar 10
IRS Extends CA Tax Deadlines to October 16th Due to Extreme Weather
As Southern California braced for blizzards, including in the mountains outside Los Angeles, for the first time since 1989, the IRS...
- Mar 3
Congress in Turmoil as Biden Insists on Higher Taxes for Corporations and the Wealthy
Last month, President Joe Biden's State of the Union address was marked with frequent outbursts from lawmakers as he urged Congress to...
- Feb 25
Taxpayers Face Smaller Refunds and Higher Audit Rates in 2023
With the annual rite of filing a federal tax return in full swing, millions of Americans will need to adjust their expectations. Before...
- Feb 17
IRS Issues New Guidance on R&D Expensing
The Internal Revenue Service and the Treasury Department issued Revenue Procedure 2023-11 during the last week of December after a...
- Feb 10
IRS Tells Millions to Hold Off on Filing 2022 Taxes
Last Friday, February 3rd, The IRS sent out a statement asking millions of taxpayers in 22 states who received tax rebates last year to...
- Jan 27
Fair Tax Act May Put an End to the IRS
On January 23rd, 2023, the legislature passed a bill, the "Fair Tax Act," to strip the extra $80 billion for IRS funding for enforcement...
- Jan 20
Fluctuating Tax Rates Impact Global Companies and Their Headquarter Locations
Before the Tax Cuts and Jobs Act was enacted in December 2017, many Fortune Global 500 companies had moved their headquarters outside the...
- Jan 13
California Storm Extends April 15th Tax Deadline to May 15th
The Internal Revenue Service announced that California storm victims now have until May 15, 2023, to file various federal individual and...
- Jan 6
$642B distributed by the IRS despite backlogs and refund delays in 2022
At the end of 2022, The Internal Revenue Service reported they received more than $4.9 trillion in tax revenue for fiscal year 2022, and...
- Dec 16, 2022
Tax Cuts and Jobs Act May Make Venture-Capital Backed Startups Owe 2022 Taxes
Due to a provision in the Tax Cuts and Jobs Act (TCJA), many unprofitable startups will have a surprise tax bill on April 18, 2023. This...
- Nov 18, 2022
IRS Surprises Retirement Plan Heirs With Tax Reprieve
Recent heirs to retirement plans got an unexpected boost last month when the Internal Revenue Service suggested they could skip making...
- Nov 5, 2022
How to Work Smarter Instead of Harder
It’s not unusual for entrepreneurs to face a multitude of unique challenges every day that can stretch their ability to stay productive....
- Oct 28, 2022
Yankees Fan Will Need an Accountant After Catching Aaron Judge's Record-Breaking Home Run Ball
Million-dollar baseballs are raining down on fans like pennies from heaven, and the taxman is not far behind. One ball, potentially worth...
- Oct 21, 2022
Tyreek Hill Lowered His State Taxes by Moving
Although NFL player Tyreek Hill does not work from home, the eye-popping four-year $120 million deal with the Miami Dolphins will not...
- Oct 14, 2022
IRS Sets Its Sights on $2 Trillion Fraudulent ERC Claims
According to a report on Aug. 31 by the Treasury Inspector General for Tax Administration, the IRS has identified more than 11,000...
- Oct 8, 2022
Giving up Patagonia Saved Yvon Chouinard from a $700 million Tax Hit
Patagonia founder Yvon Chouinard described his decision to give away the outdoor apparel maker as his last-ditch effort to do all he...
- Sep 30, 2022
IRS and Congress Shift Focus to ERC Claims Backlog
The Employee Retention Credit remains one of the best tax benefits for small to medium businesses and tax-exempt entities. The ERC...
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