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On January 16, 2024, the House Ways and Means Committee and Senate Finance Committee announced the Tax Relief for American Families and Workers Act of 2024. This bipartisan deal was
On January 10, 2024 the U.S Department of Labor (DOL) issued a final ruling, Employee or Independent Contractor Classification under the Fair Labor Standards Act, to provide guidance on whether
As the deadline approaches for filing informational tax returns, it is important to consider the updated filing requirements for these returns. The electronic filing threshold, which was previously 250 informational
The Inflation Reduction Act, effective August 16, 2022, included legislation that increases IRS funding by roughly $80 billion over the next 10 years. Nearly $46 billion (69%) of the additional
A recent blog post provided an update on the development of IRS initiatives to help businesses that were victims of aggressive Employee Retention Credit (ERC) promoters misrepresenting ERC eligibility. In
In our recent blog post, we provided an overview of controversial changes related to the timing of claiming research tax credits under IRC Section 174. This article reviews the new
Beginning on January 1, 2024, many companies will be required to report information to the government about who ultimately owns and controls them. The Federal Corporate Transparency Act (CTA), which
As 2023 draws to a close, individual taxpayers can utilize a variety of tax planning strategies to help reduce taxable income. We will be posting a series of ideas to
As 2023 draws to a close, individual taxpayers can utilize a variety of tax planning strategies to help reduce taxable income. We will be posting a series of ideas to
As 2023 draws to a close, individual taxpayers can utilize a variety of tax planning strategies to help reduce taxable income. We will be posting a series of ideas to
The IRS allows small business owners to take a deduction for the business use of a taxpayer’s home. The home office deduction allows a taxpayer to deduct a portion of
A previous blog post reported on the proposed rulemaking related to certain clean vehicle tax credits as established by the Inflation Reduction Act of 2022. (refer to an earlier post
