Business

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…

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…

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…

 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…

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…

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…

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…

The City of Philadelphia announced a Wage Tax rate decrease for workers that live in the city starting July 1, 2023. The new Wage Tax rate for residents of Philadelphia is 3.75% (.0375), down from 3.79%…

Many business owners *think* they know the value of their business, so they don’t engage in a formal valuation exercise until one of their advisors tells them that it’s needed to satisfy a particular requirement…

National Taxpayer Advocate Erin M. Collins released her statutorily mandated midyear report to Congress. The report analyzes the IRS’s effectiveness in processing original returns, amended returns, taxpayer…