In recent years, the internal revenue service began increasing identity theft identification efforts following an increase of fraudulently-filed tax returns. As part of these efforts to decrease fraud, the IRS...
The Employee Retention Credit (ERC) is one of several programs the federal government implemented in the wake of COVID-19. This program reimburses businesses through a tax credit—i.e. a lump sum...
As CPAs, we stay up to date on all areas of tax law so we can uncover maximum savings for our clients. This, of course, includes laws related to charitable...
Did you know that Employee Retention Credits (ERC) from the Cares Act are still available for many businesses filing taxes? The ERC benefit can be significant: up to $5,000 per...
How Self-Employed Individuals and Household Employers Repay Deferred Social Security Tax The Coronavirus Aid, Relief, and Economic Security Act allowed self-employed individuals and household employers to defer the payment of certain...
In March 2022, the IRS identified 11,096 suspicious returns claiming more than $2 trillion in Employee Retention Tax Credits. The full extent of the fraud has yet to be...
Authored by the IRS | August 24, 2022 COVID tax relief: IRS provides broad-based penalty relief for certain 2019 and 2020 returns due to the pandemic; $1.2 billion in penalties being...
(authored by RSM US LLP) Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021....