The passage of the Affordable Care Act (“ACA”) made it so that certain taxpayers, including Applicable Large Employers (“ALEs”), are required to file IRS Forms 1094-C and 1095-C annually, where they report information regarding health care coverage offered to employees. Below are common questions that arise concerning taxpayer filing obligations related to Forms 1094 and 1095.
With a new administration, there are a lot of questions left to be answered on economic policy. While seismic shifts are expected, the lack of clarity is leaving many businesses unsure on how to prepare for the coming year.
The election results certainly bring a new day when it comes to taxes – especially for small and medium businesses.
Tax season is always stressful for small businesses, but it’s not too soon to prepare. Follow these steps to make next tax season a breeze.
Corporate tax advisers are gearing up clients for 2024 tax code changes to research and development expenses, an election year that could determine the fate of some high-profile laws, and corporate minimum taxes, among other regulatory actions from the IRS and Treasury Department.
As we approach the holiday season, I would like to extend my warmest greetings and best wishes for a joyous and prosperous new year. As the year closes, we all tend to find ourselves focused on resolutions, should we make them, and if so, in what areas. For those of us in the professional services arena, such resolutions usually include, how may the year 2024 be improved, both for our people and our clients
The National Taxpayer Advocate (“NTA”) is required to submit a report to Congress by June 30 of every year pursuant to Code Sec. 7803(c)(B)(i).
President Joe Biden’s 2024 budget proposals contain several proposals that could hit small businesses right where it hurts — their wallets. Proposals in the budget include boosting the top capital gains rate for income over $1 million, eliminating the so-called “step-up in basis” loophole, expanding who has to pay investment income tax and at what rate, and bumping up the corporate tax rate.
The IRS on Thursday released its $80-billion plan to begin the agency’s modernization efforts, which will introduce new digital tools, streamline tax processes, and offer more assistance to taxpayers.
The Inflation Reduction Act offers some incentives for clean companies. It’s tax time, and companies nationwide are looking for sustainable write-offs to help soften the blow and reduce their carbon footprint.