Taxes July 25, 2025
Advanced Section 1202 (QSBS) Planning for S Corporations
Section 1202 provides for a substantial exclusion of gain from federal income taxes when stockholders sell qualified small business stock (QSBS).
August 14, 2022
AICPA Addresses ‘Plummeting’ Level of Service with IRS Practitioner Priority Service Phone Line
Service levels for the practitioner priority service phone line have been in continuous decline for several years.
August 13, 2022
AICPA Submits Recommendations on Green Book Trust & Estate Tax Provisions
The AICPA expressed several concerns with proposals that could be included in future tax legislation. Comments submitted address the following proposals:
Taxes August 12, 2022
House Sends Biden Landmark Tax, Climate, Health Bill to Sign
The legislation passed the House this afternoon on a party line 220-207 vote.
Taxes August 11, 2022
Tax Bill Costs Corporations Nearly $300 Billion More, While Middle Class Will Pay Less
Households earning $500,000 would face 1% increase in tax burden if House passes tax-and-climate bill.
Taxes August 10, 2022
Most Americans: ‘I’ve Got 99 Problems, But an IRS Audit Ain’t One’
A new poll found that a majority of voters (76%) weren’t worried about the prospect of being audited by the IRS.
August 9, 2022
A SEP-IRA Can Be the Easy Way Out
First off, the employer must contribute to a SEP-IRA for any employees age 21 and over who have worked for the business three out of the previous five years
Taxes August 8, 2022
Here’s What Rich Americans Could Face From a Beefed-Up IRS
Wealthy Americans should be prepared for audit levels they haven’t seen in decades, if the Democrats’ tax and climate bill passes the House.
Taxes August 8, 2022
Carried Interest Rules Live to See Another Day
This tax break has been in the crosshairs of Congress for years but was removed from Senate Democrats’ Inflation Reduction Act.
Taxes August 8, 2022
IRS Among the Winners in Dems’ Signature Tax and Energy Bill
The IRS will get an influx of $80 billion over the next decade to expand its audit capability and upgrade its technology.
Taxes August 8, 2022
Senate Democrats Pass Sweeping Health Care, Tax and Climate Bill
The bill would impose new taxes on wealthy corporations and would send new funding to the IRS.
August 8, 2022
This Retirement Plan Is Just for Self-Employeds
You can adopt either a defined contribution Keogh plan or a defined benefit Keogh plan. As you might expect, the rules for these variations generally
August 5, 2022
Solo 401(k) Plans: Looking Out for Number One
A solo 401(k) plan works pretty much like a traditional 401(k). For starters, you can elect to defer part of your salary to your account within generous annual limits.