Business
New Voluntary Disclosure Program for Employers who Received Questionable Employee Retention Credits
The Internal Revenue Service launched a new Voluntary Disclosure Program to help businesses who want to pay back the money they received after filing ERC claims in error. The special disclosure program…
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Year End Tax Planning for Businesses
As we wrap up 2023, it’s important to take a closer look at your tax and financial plans and discuss steps to reduce taxes and help you save for your future. With the current political climate, there…
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Beneficial Ownership Information Reporting under the Corporate Transparency Act
Starting January 1, 2024, a significant number of businesses will be required to comply with the Corporate Transparency Act (“CTA). The CTA was enacted into law as part of the National Defense Act for…
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IRS Announces Withdrawal Process for Employee Retention Credit Claims
As part of a larger effort to protect small businesses and organizations from scams, the Internal Revenue Service today announced the details of a special withdrawal process to help those who filed an…
Continue ReadingIRS Offers Tax Relief to Taxpayers Affected By Crisis in Middle East
The Internal Revenue Service is offering tax relief to individuals and businesses impacted by the unfolding crisis in the Middle East that has ensnared many Americans residing in or visiting the Holy Land…
Continue ReadingIRS orders Immediate Stop to New Employee Retention Credit Processing
Amid rising concerns about a flood of improper Employee Retention Credit (ERC) claims, the Internal Revenue Service announced an immediate moratorium through at least the end of the year on processing…
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Watch out for Warning Signs of Aggressive Employee Retention Credit Promotion
The Internal Revenue Service continues to warn businesses to watch out for aggressive marketing by nefarious actors involving the Employee Retention Credit (ERC) and urged people to watch out for red…
Continue ReadingIRS Announces Change in Policy
In a major change in policy, the IRS will end most unannounced visits to taxpayers by agency revenue officers. The change reverses a decades-long practice by IRS revenue officers who make unannounced visits…
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Blog: Top 10 Mistakes Business Owners Make When Valuing Their Company
Valuing a business is one of the most important tasks for business owners and yet, many business owners have no idea of the true value of their company. A business valuation determines the fair market…
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What is the Corporate Transparency Act?
The Corporate Transparency Act (CTA), ratified into law on January 1, 2021, advances the agenda of deterring criminals from infusing their illicit funds into the U.S. financial system. What is the Corporate…
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