Tax Archives

IRS Takes Gloves Off – Announces Immediate Suspension of Processing New ERC Claims

First GLAM, and now Slam: the IRS is getting serious with questionable Employee Retention Credit (ERC) claims. GLAM On July 21, 2023, the IRS…

Employee Retention Credit is getting a GLAM Up

As the summer winds down, Employee Retention Credit (ERC) compliance activity and new guidance from the IRS are heating up. From IRS’s release of…

President Signs Legislation Raising the Debt Ceiling and Making Budget Changes

Over the Memorial Day weekend, Congressional leaders and the Administration reached an agreement to extend the debt limit, also agreeing to make various changes…

Next Act for the Employee Retention Credit (ERC): Top of the 2023 IRS “Dirty Dozen” List

Since its introduction three years ago under the CARES Act, the Employee Retention Credit (ERC) has had a significant impact on many for-profit and…

Addressing Unclaimed Property for Businesses

Many business owners are unaware of their obligation to perform due diligence regarding uncashed checks. Background: What is unclaimed property? Unclaimed property is a…

What You Need to Know about Cryptocurrency Contributions and Charitable Deductions as a Not-for-Profit Organization

Monetary donations are a large part of a not-for-profit organization’s funding portfolio. With many individual taxpayers contributing donations through non-cash means, it’s important to…

It’s Not Too Late: Wisconsin Unclaimed Property VDA Program

The Wisconsin Unclaimed Property Voluntary Disclosure Agreement (VDA) Program closes on February 28, 2023 All states, including Wisconsin, have laws that require businesses to…

Hoosier Tax Madness: Senate Bill 2 Allows for Tax Savings for Indiana Businesses

Filing season for Hoosier business owners just got more exciting. Update: on February 22, 2023, Governor Holcomb signed into law Senate Bill 2. The…

Congress Passes Omnibus Spending Bill Without Key Tax Provisions

IRS announces Form 1099-K delay, too What’s become a bit of a holiday tradition, Congress engaged in its end of year procrastination to complete…

Tax and Financial Planning Considerations before Year-end

The end of the year marks one of the most critical times for investors, as they face many decisions that impact their overall financial…

Recent Legislation Offers New and Enhanced Tax Credits and Incentives

The CHIPS and Science Act of 2022 was signed into law in August, with a goal to increase semiconductor chip manufacturing within the U.S….

Don’t Dread Year-End! Tips for How You Can Be Prepared.

Annual payroll tax reporting is a necessary evil for all businesses and the year-end forms processing can be taxing, with the requirement that you…

The Latest Developments of the Employee Retention Credit Part 3: A Deeper Dive into the Technical Areas of the ERC

This is part 3 of a 3-part series that reviews the latest developments of the Employee Retention Credit (ERC), which was first introduced as…

Giving to Charity from your IRA

If you intend to take a Qualified Charitable Distribution (QCD) for your 2022 Required Minimum Distributions (RMDs), plan to do so by early December…

Tax Implications of Security Measures for C-Suite Executives

The security and protection of an organization’s high-profile employees should never be overlooked. Throughout our country’s history, people in the public spotlight have often…

The Latest Developments of the Employee Retention Credit Part 2: Preparing for an IRS Audit of ERC Claims

This is part 2 of a 3-part series that reviews the latest developments of the Employee Retention Credit (ERC), which was first introduced as…

The Latest Developments of the Employee Retention Credit

This is part 1 of a 3-part series that reviews the latest developments of the Employee Retention Credit (ERC), which was first introduced as…

Pass-through Entity Tax Election Changes in Your State

In recent months, several states have made changes to their laws concerning pass-through entity (PTE) taxes. These entities, by nature, maintain business structures that…

Congress Approves Tax and Energy Bill

Update as of August 16, 2022: President Biden signed the bill The Inflation Reduction Act of 2022 (H.R. 5376, previously the Build Back Better,…

What Your Organization Needs to Know About Form 990 – A Webinar Recap

At our recent not-for-profit webinar, we covered commonly asked questions about Form 990 with finance leaders and board members across our footprint. Form 990…