IRS Announces Moratorium on the Employee Retention Credit and Provides Guidance for Civil Penalty Amnesty to Withdrawing Improper Claims, Also Known As - Don’t Deposit That Check and Hire Legal Counsel The expansion and strong marketing tactics of good-for-nothing “accounting advisors” who encouraged taxpayers to qualify for the Employee Retention Credit (“ERC”) when they did not technically qualify has caused…
Not a week goes by that I don't get a question about Social Security and taxes. Most often, taxpayers wonder how they can qualify for benefits. Here's what you need to know about how you can qualify for Social Security retirement benefits, and how to check to see that your…
IRS Commissioner Danny Werfel gave us a glimpse of what was coming last month when he suggested that taxpayers would see more changes at the agency. This week, he offered more details, announcing a series of initiatives as part of what is being called “a sweeping, historic effort to restore…
As House Republicans engage in a nasty internal battle over whether to raise the $10,000 cap on the state and local tax (SALT) deduction, a new Tax Policy Center analysis shows the Ways & Means Committee bill at the center of the squabble would reduce the share of households affected…
Big government is back — big programs with big price tags, all wrapped up in some very big ambitions. When President Biden campaigned on a promise to “Build Back Better,” he wasn’t just coining a slogan. Biden came to the presidency with a back-to-the-future view of American governance. As the…
The IRS announced tax relief for individuals and businesses affected by Idalia, anywhere in South Carolina. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments. This is similar to relief already being provided in most of Florida. The…
Tax Notes Capitol Hill reporters Cady Stanton and Doug Sword preview what to expect from Congress in tax policy this fall, from a potential end-of-year tax package to IRS funding. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I'm David Stewart, editor…
In the mood for a smoke? If you’re in the Empire State, it’s going to cost you. As of September 1, New York State has the highest cigarette tax in the country. The cigarette tax has increased by $1.00 per pack of 20 cigarettes, from $4.35 to $5.35. That brings…
It’s official: The turf war is on. That’s the takeaway from the report on international taxation from U.N. Secretary-General António Guterres, released August 8. The report was prepared in response to a resolution approved by the U.N. General Assembly last year. Curiously, the report is styled as an “advance unedited…
Americans are terrible about taking time off from work. While reasons may vary, the Pew Research Center recently reported that 46% of U.S. workers who receive paid time off from their employer take less time than they are offered. I get it: I'm writing this article over a holiday weekend.…
Following the first Republican presidential primary debate, businessman Vivek Ramaswamy seems to be having a moment. That makes it a good time to explore his unorthodox fiscal agenda. While in many respects his platform appears to be standard Republican playbook, it includes some real surprises. But his unrealistic assumptions, yawning…
In a declining economy, startups face an uphill battle when it comes to securing funding.…
With all of the recent news about artificial intelligence (AI), it got me thinking about…
A while back, I took a couple of my grandchildren on a tour of the…
Startups face numerous challenges on their journey to success, and failing to overcome any one…
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