IRS
Home Energy Audits Are a Key Part of Qualifying for New Tax Credit, IRS Says
The IRS informed taxpayers on the home energy audit requirements in order to claim the energy efficient home improvement tax credit.
These Eight States Won’t Tax Your Mega Millions Jackpot Winnings
A $1.25 billion-dollar prize is up for grabs in the next Mega Millions drawing. Will your state tax your payout?
Why Small Business Owners Should Review Their Buy-Sell Agreements
A recent tax case has highlighted the need for businesses using a similar succession planning arrangement to look at theirs.
The Tax Blotter – August 3, 2023
Under current law, net operating losses (NOLs) can no longer be carried back for two years, but they may be carried forward indefinitely.
Why Small Business Owners Need Tax Mitigation Strategies More Than Ever
A landmark tax case before the U.S. Supreme Court about unrealized gains underscores business owners’ need for tax planning.
4 Key Tax Benefits of Hiring Your Children
Hiring your child can potentially lower your tax bill and help kids develop skills, but there are some IRS rules you need to follow.
AICPA Pushes for Tougher Action on ERC Cheats
Among the warning signs businesses should be wary of are vendors that require large, upfront contingency fees and those who fail to sign the amended payroll tax returns.
TIGTA Says IRS Isn’t Properly Controlling Sensitive Tax Information
The report found that required tracking documents, such as Forms 3210, Document Transmittal, are not included with these shipments and/or not prepared properly.