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Tax Preparation
Your CPAs Guide To The New ERC Crisis
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…
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Amending Taxes Isn’t A True Do Over—Unless You Use This Rule
When should you amend your tax return and when is it required? You need to file a tax return with the IRS each year if your income is over the requisite level. In fact, you can be prosecuted for failure to file (a misdemeanor) or for filing falsely (a felony).…
House Republicans Are Ready To Break Things — Including The IRS
The Republican struggle to choose a speaker for the House has looked a lot like an ideological battle, pitting archconservatives against relative moderates in the GOP caucus. But in fact, it’s also a fight about governance, and especially the return to intransigence. “What’s also going on is a split over…
Are You Really Sure Your Electronic Form 1040 Was Filed?
Considering how soon Halloween comes after October 15 (October 16 in 2023), the extended due date for individual returns, having a tax horror story now seems really appropriate. The horror story came out on October 24 with the Eleventh Circuit decision in the case of Lee v US. Dr. Wayne…
Best And Worst States To Buy An Electric Vehicle
The Biden administration is shooting for 50% of all new car sales to be electric vehicles by 2030. Thanks to generous state and federal on-the-spot rebates, local dealers are gearing up for a sales boom. By Rina Torchinsky, Forbes Staff The banner across the the top of the website for…
How Aging Billionaires Are Making Sure Their Money Doesn't Go To Uncle Same
Boomers and their elders control $93 trillion, or two-thirds of America’s household wealth. Forbes 400 members Phil Knight, Charles Koch, Barry Diller and Harold Hamm give a master class in how to make sure your money goes to charity and children. Read the full article here
Your CPAs Guide To The New ERC Crisis
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…
Is Working From Home Falling Or Stabilizing? Both.
Is working from home (WFH) falling, signaling that workers have to go back to the office? Or is WFH now a permanent part of future work, jobs, and careers? Well, actually both. But the future, even with higher permanent levels of WFH, remains unsettled for workers and employers. Where WFH…
Who Is Stuck With Tax Tab For Bang Energy Monster Sale?
Seems like everything becomes a tax story eventually and so it goes with the colorful controversial Jack H Owoc and his Vital Pharmaceuticals best known for its Bang Energy line of drinks. There has been controversy about the Pepsi distribution deal, what exactly is it that goes into those drinks,…
Questioning Universities’ Tax-Exempt Status Over Their Middle East Views Is Dangerous
House Ways & Means Committee Chair Jason Smith (R-MO) has questioned the tax-exempt status of universities that, in his opinion, are anti-Israel. Whatever your views on the Middle East, Smith is swimming in very dangerous waters. There are serious questions about the tax treatment of colleges and universities. But do…
Questioning The Tax-Exemption Of Universities Over Their Mideast Views Is Dangerous
House Ways & Means Committee Chair Jason Smith (R-MO) has questioned the tax-exempt status of universities that, in his opinion, are anti-Israel. Whatever your views on the Middle East, Smith is swimming in very dangerous waters. There are serious questions about the tax treatment of colleges and universities. But do…
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