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IRS Updates Car and Truck Depreciation Limits
The IRS issued its annual inflation-adjusted update of depreciation limitations for passenger automobiles (including passenger vans and trucks) placed in service in 2021 (Rev. Proc. 2021-31). The revenue…
Continue ReadingFor National Preparedness Month, IRS Urges Taxpayers to Prep for Natural Disasters
September is National Preparedness Month. With the height of hurricane season fast approaching and the ongoing threat of wildfires in some parts of the country, the Internal Revenue Service reminds everyone…
Continue ReadingGross Receipts Safe Harbor Issued for Employers Claiming the Employee Retention Credit
On August 10th, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued a safe harbor allowing employers to exclude certain items from their gross receipts solely for determining…
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