For a variety of reasons, many Americans living overseas contemplate relinquishing their citizenship. This process has a number of ramifications that warrant serious consideration. This article will focus on the tax impact of renouncing US citizenship — the US Exit Tax.
North Carolina passes a budget almost three months after the fiscal year begins with new taxes, accelerated tax cuts, and other taxpayer-friendly provisions.
On September 14 2023, the IRS halted all new employee retention credit claims to combat rampant tax fraud. If a business has an open ERC refund claim, they are strongly encouraged to evaluate their eligibility with a professional tax advisor.
If you are reading this article you have likely been tasked to complete the 30 Part, 8 page IRS form filled with mystifying acronyms. We feel your pain. The key takeaway is that you can save on tax and paperwork grief by completing this correctly.
ERC submissions are under scrutiny by the IRS due to a surge in questionable claims. Are you confident your claim meets the eligibility requirements and can stand up to a potential audit?
The IRS has temporarily halted processing of employee retention credit claims and will provide additional guidance for businesses.
Starting on January 1, 2024, millions of small businesses will be required to file a new information reporting form as part of the Corporate Transparency Act. Many PBMares clients will be affected.
IRS announces new Hurricane Idalia tax relief and a new February 15, 2024 tax deadline for all individuals and businesses in South Carolina.
Whether through RetirePath, a new state-sponsored and mandated retirement plan, or offering another employer-sponsored plan, the question now for Virginia contractors isn’t whether to offer a retirement plan, but which one.
As selling overseas becomes easier and staff becomes more internationally mobile, understanding foreign tax filing requirements is critical. A good place to begin is by considering the permanent establishment threshold.
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