With fraudulent Employee Retention Tax Credit claims on the rise, the IRS has suspended claim processing through year end.
The SECURE 2.0 Act’s new retirement catch-up contribution rules caused problems and confusion for employers and employees alike. The IRS has now provided guidance.
No one likes the prospect of an IRS audit, and this certainly includes construction business owners. But there are ways to always be ready and to ease the pressure if it does happen.
The IRS is providing broad-based penalty relief to most taxpayers who filed certain 2019 and/or 2020 tax returns late due to the COVID-19 pandemic. Find out if you might qualify.
IRS reaches internal milestone for 2020 individual tax return backlog. National Taxpayer Advocate’s report shows that milestone may not be a significant accomplishment considering remaining paper return backlog and additional processing delays.
Have you been receiving excess automated notices from the IRS? Here is what the IRS is doing to mitigate these notices and what the AICPA is recommending for improvements.
Can’t get through to the IRS on the phone? We’ve got some tips that may help you get your hands on the tax information you need.
Have you bought or sold business assets in an M&A deal in 2021 or are in the process of a transaction? If so, you must report the details to the IRS. The tax agency may then compare what both parties report to ensure they match.
Getting a letter from the IRS that your tax return is being audited may strike fear into the hearts of business owners. But the more you know about IRS audits, the better you can fare.