The Internal Revenue Service announced in March that its compliance efforts related to the Employee Retention Credit had exceeded $1 billion, with the agency specifying that “more than 12,000 entities filed over 22,000 claims that were improper and resulted in $572 million in assessments.”
Companies take IRS budgets into consideration when developing their year-to-year tax strategies and take more aggressive tax positions when IRS budgets are smaller, and retreat to less risky tax positions when IRS budgets are higher, according to a new study.
The latest IRS data shows that it had 1,057,000 unprocessed Forms 941-X as of December 9, 2023. Most of those forms are likely Employee Retention Credit (ERC) refund claims.
Taxes represent a large sunk cost for boiler manufacturers, but the R&D tax credit offers savings. Boilers are indispensable to much of the American economy, ranging in application from electricity generation to food processing…
In an age that celebrates lightning-fast technological advancement, organizational data management continues to fall short.
Ronald McDonald House Charities of Northeast Kansas recently hosted a dinner and trivia night for families staying at the Ronald McDonald House in Topeka, Kansas.
What can you expect to learn from this episode? Farm Bill Dynamics: Insights into political debates and budget priorities affecting agriculture.
The Internal Revenue Service (“IRS”) announced on December 21, 2023 its Voluntary Disclosure Program (“VDP”) for the Employee Retention Credit (“ERC”)
The IRS has formed a unit that aims to make it easier to quickly resolve tax disputes without litigation, an effort that will include more outreach on avenues available to taxpayers.
Congress is taking its time on reversing delayed tax deductions for innovation.