Updated The Internal Revenue Service (IRS) has been issuing tens of thousands of Letter 105C notices, denying Employee Retention Credit (ERC) claims. The volume of ERC claims, many facilitated by…
Expect plenty of changes in the world of tax under the new administration.
The election results certainly bring a new day when it comes to taxes – especially for small and medium businesses.
The Senate confirmed IRS Commissioner Daniel Werfel about seven months after the agency received a massive infusion of funding from President Biden’s Inflation Reduction Act.
President-elect Donald Trump has tapped former Missouri congressman Billy Long to lead the IRS, which has triggered mixed reactions from Washington and the tax community.
IRS has recently announced several achievements, including the development of a new program office, while also acknowledging difficulties in areas such as the processing of coronavirus disease (“COVID”)-era tax credits.
The IRS is moving forward with issuing tens of thousands of denial/disallowance letters to applicants of the Employee Retention Credit (ERC).
Private placement life insurance (PPLI) policies that push the boundaries of what is acceptable under IRS
The IRS is working on plans to avoid increased audits on taxpayers making less than $400,000 — but certain areas can invite scrutiny, regardless of income.
The House and Senate tax-writing committees are both set to lose veteran lawmakers in the next Congress, changing the dynamic on the panels as they gear up for a major fight next year over the fate of the expiring provisions of the Tax Cuts and Jobs Act.