25 Years Of Positive Results

Year: 2021

October IRS Updates

Historic Gross Receipts Permitted. IRC 165, PLR 202140002:  IRS allows for the inclusion/consideration of historic gross receipts of stated foreign sub into account for purposes of computing Code Sec. 165(g)(3)(B)'s “more than 90% gross receipts test” by holding co....

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In Home COVID Testing, PPE

The cost of home testing for COVID-19 and personal protective equipment considered medical expenses within meaning of Code Sec. 213(d) are eligible to be paid or reimbursed under various FSAs, HRAs, and HSAs. This means these costs can be paid or reimbursed by the...

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How does tax withholding work?

In the United States, employers are required to withhold taxes from their employee's paychecks. The withholding amount is automatically deducted by the employer from each paycheck and is determined by an employee's wages and marital and family status. However, many...

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Pandemic level fraud coordination

On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to include DOJ partnership “with agencies across government to enhance efforts to combat and prevent pandemic-related fraud.”  The focus is on the investigation and eventual...

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Payroll tax withholding

Employers are required by law to withhold taxes from their employee's paychecks, keep the funds secure and then report and deposit them with the IRS at the appropriate time.  This helps the IRS by gathering the taxes of many individuals into a single purse for which a...

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