Breaking News from Capitol Hill: Is There Finally a Fix for Section 174?
With a rumored solution for 174 amortizations, the R&D tax credit could put cash back into businesses’ pockets before the next deadline. ERC is coming to an end, but the…
Is the gen AI bubble due to burst? CIOs face rethink ahead
Generative AI has been hyped so much over the past two years that observers see an inevitable course correction ahead — one that should prompt CIOs to rethink their gen AI strategies.
Is Generative AI Distracting Your Business?
As a CEO, I’ve seen so many allegedly “game-changing’” technologies come and go this century – from AR/VR technology, blockchain, 3D printing, the Metaverse, NFTs, Web3, and the list goes on and on.
What to know as IRS kicks off withdrawal option for pandemic-era small business tax credit
The IRS has announced a special withdrawal process for small businesses that wrongly claimed a pandemic-era tax break — and experts have tips for those who may be affected.
IRS: We Apologize, Your Tax Refund Is Delayed
Tax returns are piling up at the Internal Revenue Service, and millions of taxpayers are experiencing refund delays beyond the typical 21 days or fewer for e-filed returns electing a direct deposit refund.
IRS Warns Employers About This One Tactic to Claim Pandemic Tax Credit
The IRS today announced a withdrawal process for business owners/tax-exempt managers from their Employee Retention Credit (ERC) claims. The IRS has been taking a hard eye at ERC filings given
IRS Warning on pop-up ERC Shops
Getting refunds on your taxes can be exciting but waiting for your refund is a different matter. Whether you are a seasoned attorney with years of experience or you are submitting your taxes for the first time, the IRS refund process can seem slow. So what can you do about it?
The IRS audited my husband’s 2021 tax return and, yes, he made some mistakes. Now it wants two years to look at his 2022 tax return. Is this normal?
‘Must we agree to have this hanging over our heads that long?’ Dear Tax Guy, My husband owns his own business. The Internal Revenue Service audited his 2021 income-tax return. There were some small mistakes. The amount due was paid. However, he received notice at the end of 2023 that he was also being audited for 2022.
IRS uses IRA funds to bridge tax gap
The Internal Revenue Service is trying to leverage the extra billions in funding from last year’s Inflation Reduction Act to narrow the ever-increasing gap between taxes due and taxes collected, but has spent surprisingly little of the money so far.
IRS Uses AI to Chase Tax Cheats, Catch Up After Underfunded Era
Artificial intelligence at the IRS isn’t new, but the recent infusion of funding from the Democrats’ tax-and-climate law gives the agency more fuel to address compliance gaps.