Tax

Dec 12

Strategies to Adapt to the New Tax Landscape for 2025

With the contentious 2024 elections concluded, attention now turns to President-elect Donald Trump’s economic and tax agenda. With...

Nov 6

How Professional Athletes Can Prepare for Changing Deductions and Tax Impacts

With the provisions of the Tax Cuts and Jobs Act (TCJA) set to expire in just over a year, taxpayers and tax professionals are closely...

Oct 2

6 Key Retirement Rule Changes for 2024 and 2025

The retirement landscape is rapidly changing with new rules and tax laws impacting retirement account contributions and withdrawals....

Sep 21

Key BOI Reporting Rules Explained as 2025 Deadline Approaches

As the January 1, 2025, deadline for Beneficial Ownership Information (BOI) reporting approaches for entities formed before January 1,...

Sep 4

IRS Ramps Up Enforcement on Large Partnerships

The Internal Revenue Service (IRS) is intensifying its scrutiny of large partnerships, leveraging additional funding provided by the...

Sep 3

Fluctuating Corporate Taxes Lead Companies to Rethink Growth Plans

Executives are facing uncertainty over how the November election could impact their investment and growth strategies, with the corporate...

Aug 22

IRS Balances ERC Claim Approvals and Fraud Prevention Efforts in 2024

The Employee Retention Credit (ERC) program was initially established to help businesses retain employees during pandemic shutdowns....

Aug 9

Advisors Brace for Impact of IRS Inherited IRA Rule Changes

The IRS has officially ended any remaining hope of revising its new guidelines for inherited individual retirement accounts (IRAs),...

Aug 2

Candidate Swap Sparks Economic Uncertainty Pre-Election

The unexpected replacement of the Democratic presidential candidate less than four months before the U.S. election has introduced...

Mar 22

Navigating Tax Challenges in the Era of Global Remote Work

The rise of remote working, accelerated by the COVID-19 pandemic, has fundamentally altered how businesses operate, prompting a...

Feb 12

IRS to Update R&D Tax Regulations

The Internal Revenue Service (IRS) and the Treasury Department have recently announced their plan to propose new regulations concerning...

Jan 20

Bipartisan Tax Deal Proposes Business Breaks

In a significant bipartisan move, U.S. lawmakers, spearheaded by Senator Ron Wyden (D., Ore.) and Representative Jason Smith (R., Mo.),...

Jan 5

IRS Launches ERC Rectification Program

The Internal Revenue Service (IRS) has initiated a voluntary disclosure program targeting businesses that erroneously claimed the...

Dec 8, 2023

Wealth Tax Debate Over $14,729 Refund

The U.S. Supreme Court's review of a significant tax case raises questions about the constitutionality of a wealth tax on America's...

Nov 16, 2023

IRS Grapples with Persistent Issues Amid Funding Surge

The Internal Revenue Service (IRS) is working to overcome numerous challenges, a task that the extra funding from the Inflation Reduction...

Oct 20, 2023

IRS Moves Form 8300 to Digital Filing

Starting January 1, 2024, the Internal Revenue Service (IRS) mandates that businesses electronically file Form 8300, which reports any...

Sep 29, 2023

New York Mets Owner Steve Cohen Challenges IRS on Self-Employment Taxes

Steve Cohen, the billionaire owner of the New York Mets and Point72 Asset Management, has launched a legal challenge against the Internal...

Sep 8, 2023

Software Glitch Causes IRS Filing Confusion

Due to a recent software glitch, the Internal Revenue Service (IRS) accidentally issued late-filing notices to many retirement plan...

Aug 11, 2023

Tax Consultant to Prominent DJs Accused of Concealing $100M from IRS

Frank Butselaar, a Dutch tax consultant with high-profile clients from the DJ and fashion worlds, is facing charges of devising a scheme...

Jul 21, 2023

IRS Issues Guidance on New Corporate Excise Tax

In the final week of June, the Internal Revenue Service (IRS) released provisional guidance about the newly introduced 1% excise tax on...