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.
New W-2 and 1099 E-Filing Requirements for Employers in 2023
On February 23, 2023, the IRS significantly expanded electronic filing requirements for tax returns. This article focuses on the most common type of information returns–W-2 and 1099 series return filings–but the new requirements also apply to other types of returns.
Deadlines for Claiming the Employee Retention Credit (and It’s Not July 31, 2023)
The deadline for claiming the Employee Retention Credit (ERC) is getting closer. If you are an eligible business or nonprofit organization, you still have time to determine your eligibility and file your claim. That time, however, will run out soon with strict filing deadlines coming up in 2024 and 2025.
2023 Updates to Meals and Entertainment Tax Deductions
The rules for deducting meal and entertainment expenses are different in 2023. Browse an overview of common deductible expenses in this article.
State income tax law changes for the second quarter of 2023
A summary of state and local income tax updates enacted during the quarter ending June 30, 2023, which may impact current and deferred tax provisions
Virginia Businesses Employing More Than 25 Employees Now Have Three Options
On July 1, 2023, more than 8,000 Virginia employers will receive a notice about RetirePath, a state-sponsored retirement program. Employers will need to register by February 2024, offer their own plan, or pay a per-employee fine.
Pass-through entity elections are here to stay: What you need to know
Pass-through entity elections are creating tax planning complexity. This article explains what you need to know and what you should do next.
Wayfair turns five: A coming of age story
With so many questions remaining five years after Wayfair, sales and use tax nexus planning remains critically important.
What’s in the Inflation Reduction Act, Anyway? 12 Tax Provisions in Detail
From corporate tax changes to clean energy tax credits, the 179D commercial building deduction, and more, the Inflation Reduction Act contains a myriad of tax law changes for 2023 and beyond. This article details 12 tax changes likely to impact most taxpayers.
Changes to 179D in the Inflation Reduction Act
179D, a popular energy efficiency tax incentive, has been expanded and upgraded in 2022’s Inflation Reduction Act. From new deduction amounts to prevailing wage requirements, learn about changes to 179D.