IRS Discreetly Modifies Children's Inheritance Rules
The IRS's Revenue Ruling 2023-2, issued in March, significantly impacts estate planning, particularly in relation to irrevocable trusts....
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Jun 30, 2023
IRS Reminds Taxpayers in Disaster Zones about Extended Deadlines
The Internal Revenue Service (IRS) is taking a unique initiative by sending an additional round of mail to taxpayers in various states...
Jun 16, 2023
Small Businesses Grapple with Banks' New Lending Standards
As banks impose stricter lending standards, small businesses are feeling the pressure. The task of securing new loans or preserving...
Jun 9, 2023
2022 Tax Filing Guidelines for Overseas U.S. Citizens
U.S. citizens, resident aliens, and dual citizens living and working overseas, as well as U.S. military personnel stationed abroad, are...
Jun 7, 2023
The IRS’s Struggle in Combatting Fraud with ERC
The Employee Retention Credit (ERC) was created to support businesses and their employees during the COVID-19 pandemic, offering tax...
Jun 3, 2023
Bipartisan Bill Aims to Simplify Tax Extensions
The Simplify Automatic Filing Extensions (SAFE) Act of 2023, or H.R. 3566, was put forward by Rep. Judy Chu, D-California, and Mike...
May 31, 2023
8 Reasons Why You Should Partner with an Experienced CPA for ERC
Partnering with an experienced and qualified Certified Public Accountant (CPA) for Employee Retention Credit (ERC) offers several...
May 19, 2023
Beyoncé Fights Back Against Alleged $2.7 Million Tax Debt
Global music icon and business mogul, Beyoncé Knowles-Carter, also known as Queen Bey, has taken a stand against the U.S. Internal...
May 17, 2023
Understanding Eligibility, Application, and Benefits for the Employee Retention Credit
The COVID-19 pandemic had a significant impact on businesses across the globe. In response to these unprecedented challenges, the U.S....
May 12, 2023
Senate's Estate Tax Repeal Reintroduced
Recently, key Republican Senators including John Thune of South Dakota, Mitch McConnell of Kentucky, and Mike Crapo of Idaho have...
May 10, 2023
ERC Scams Make IRS' Dirty Dozen List
The Employee Retention Credit (ERC) has been a vital relief measure for businesses during the COVID-19 pandemic. Unfortunately, scammers...
May 5, 2023
IRS Funding in Jeopardy by House Bill
IRS Commissioner Daniel Werfel defended the agency's budget during a congressional hearing last month, following the passage of a House...
Apr 28, 2023
Navigating Remote Work Tax Challenges
The pandemic resulted in a surge of remote work for millions of Americans, leading many companies to adopt telecommuting. Initially...
Apr 21, 2023
Navigating Grantor Trust Tax Challenges
Grantor trusts offer numerous benefits and often serve as the foundation for many estate plans. They allow you to conduct transactions...
Apr 14, 2023
IRS Strategy Targets Wealthy Taxpayers and Corporations
In a report to the Secretary of the Treasury, the Internal Revenue Service unveiled its strategic operating plan for the next decade,...
Apr 7, 2023
Banking Crisis Threatens Small Firms
As the banking crisis intensifies, small business owners are increasingly concerned that their lines of credit may be canceled, with...
Mar 31, 2023
Senate Introduces Bills to Enhance Corporate Transparency and Strengthen IRS Whistleblower Program
Earlier this month, lawmakers introduced two new pieces of legislation in the Senate with the aim of increasing corporate financial...
Mar 24, 2023
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...
Mar 17, 2023
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, 2023
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...
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