IRS halts employee retention credit processing
The IRS has temporarily halted processing of employee retention credit claims and will provide additional guidance for businesses.
What Small Businesses Need to Know about the Beneficial Ownership Information Report
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 Provides Tax Relief and Extension for South Carolina and Florida Taxpayers Impacted by Hurricane Idalia
IRS announces new Hurricane Idalia tax relief and a new February 15, 2024 tax deadline for all individuals and businesses in South Carolina.
RetirePath for Virginia Construction Contractors: Benefits and Considerations
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.
Selling Overseas: What Triggers a Foreign Tax Filing Requirement?
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.
IRS to Go Paperless Starting in 2024
A more tech-savvy IRS? That’s the plan, and it’s happening soon. In the 2024 tax filing season, taxpayers will have the option to go entirely paperless with the IRS.
New Sales Tax Exemption for the Automobile Repair Industry
In good news for the automobile repair industry, Virginia has enacted a new sales tax exemption for separately stated labor charges rendered in connection with diagnostic labor services for auto repair work and emergency roadside service for motor vehicles, even if tangible property is sold as part of the transaction.
Exporters May Be Leaving Money on the Table
Unless your business is taking advantage of the special export tax incentive known as IC-DISC (interest-charge domestic international sales corporation), you may be leaving money on the table.
Carbon-Reduction in Commercial Real Estate
Decarbonizing commercial real estate is becoming an industry-wide imperative. Tax incentives in the Inflation Reduction Act give taxpayers several options to offset the cost of energy-efficient upgrades.
IRS clarifies employee retention credit guidance
IRS guidance addresses full or partial suspensions of operations due to supply chain disruption for ERTC and erroneous ERTC refunds.