Congress open to considering a pause on automated tax notices
National Taxpayer Advocate, Erin Collins, recommends the IRS pause automated collection notices. Congress may consider the recommendation.
Watch for New Letters from the IRS — and Keep Them!
The IRS is sending taxpayers new letters about the 2021 Economic Impact Payments and Advanced Child Tax Credit payments. The letters contain information necessary for calculating your tax refund correctly.
Did You Miss Out on the Employee Retention Tax Credits?
Many employers do not realize they could benefit from the ERC. As businesses close their books and records for 2021 and begin to work on tax compliance, it is a good opportunity to revisit the ERC to clear up any confusion that may exist.
Updated IRS Guidance on Meals and Entertainment Expense Deduction
In 2021 and 2022, a temporary change to the tax code allows companies to deduct 100 percent of most business meal and entertainment expenses. Guidance on per diem deductibility has also been clarified.
Senate Finance releases Build Back Better text
Senate Finance Committee Build Back Better language largely leaves House Bill unchanged. SALT language omitted as well as billionaires' tax.
Federal Contractors on the Hook for Cybersecurity Readiness
In another demonstration of the federal government’s commitment to cybersecurity, the DOJ released details of its Civil Cyber-Fraud Initiative. Here’s how contractors can comply.
IRS Releases Guidance on Q4 Removal of Employee Retention Credit
Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021.
Whitepaper | Valuing Your Business
A business valuation helps to determine the fair market value of a company and may be needed for a variety of reasons such as buying or selling a business, transferring equity, developing an estate plan or purchasing insurance. In this video, you'll learn why you might need a valuation and the common methodologies used to determine value.
Case Study | Not-for-Profit Overcomes a Financial Hack and Comes Back Stronger
A small Virginia nonprofit thought they were doing all the right things in terms of cybersecurity, cyber insurance and safety. They found out the hard way that it wasn’t enough to avoid the damage from a hacker that knew how to manipulate their weak points.
2022 Limits for Retirement Plan Contributions
The IRS released Notice 2021-61 on November 4, 2021 disclosing the cost-of-living adjustments for retirement plans. Many of the limits increased for 2022 as compared to 2021.