IRS January 17, 2025
IRS Chief Danny Werfel to Resign on Jan. 20
Werfel took over as chief of the tax agency in March 2023 and is stepping down on Inauguration Day with more than two years left in his term.
Taxes December 27, 2022
IRS and Treasury Release Guidance on Corporate Stock Repurchase Excise Tax
Notice 2023-2 provides interim guidance regarding this tax provision in the Inflation Reduction Act.
Taxes December 27, 2022
IRS, Treasury Issue Interim Guidance for New Corporate Alternative Minimum Tax
The corporate alternative minimum tax was created by the Inflation Reduction Act enacted last summer.
Taxes December 27, 2022
How to Max Out the Gift Tax Exclusion
When possible, limit your lifetime gift-giving to amounts covered by the annual gift tax exclusion.
Taxes December 27, 2022
Saver’s Tax Credit Helps Reward Workers for Saving for the Future
The Retirement Savings Contributions Credit, also known as the Saver's Credit, helps offset part of the first $2,000 workers voluntarily contribute to ...
Payroll December 27, 2022
Payroll-Related Issues Top List of Business Concerns in 2023
A list of the most prominent compliance-related topics employers will face in 2023.
Taxes December 27, 2022
IRS, Treasury Lay Out Transitional Guidance for Broker Reporting on Digital Assets
The Infrastructure Investment and Jobs Act amended the tax code to expand reporting rules on digital assets by brokers.
Taxes December 27, 2022
Rely on New Per Diem Rates
The government annually establishes a flat rate for certain “high-cost areas” such as New York, Chicago and Los Angeles and other major cities.
Taxes December 27, 2022
Tough Tax Law Test for Real Estate Professionals
Generally, investors in activities such as real estate in which they don’t materially participate can only take deductions up to the amount of their passive income for the year.
Firm Management December 27, 2022
Managing Firm Morale to Win the Coming Busy Season
While stress is difficult to avoid during this hectic time, practice leaders can mitigate the impact of stress on employees through rewarding employees who ...
Accounting December 26, 2022
$1.7 Trillion Government Spending Package Clears Senate and House, Heads to President
On Thursday, 166 members voted by proxy, taking advantage of the pandemic-era policy that Republicans have vowed to end in the next Congress,
Taxes December 25, 2022
Three Key Expiring Business Tax Provisions
At this time of year, Congress usually addresses a number of tax law provisions that are going off the books.
Taxes December 23, 2022
IRS Puts $600 1099-K Threshold Rule on Hold
The Internal Revenue Service today announced a delay in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season.