Learn how the IRS’s reopened Employee Retention Credit Voluntary Disclosure Program helps businesses correct ERC errors, avoid penalties, and more.
IRS Reopens Employee Retention Credit Voluntary Disclosure Program
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Blog
September 2024 Tax Updates
Maryland Joins IRS Direct File Program Governor Wes Moore announced that Maryland will join the IRS Direct File Program for the 2025 filing season. This will allow taxpayers to electronically file their taxes at no cost. Maryland is the ninth state to opt in and 21st...
Understanding the Statute of Limitations in Employment Tax Cases: U.S. vs. Fecondo (Part 3)
Explore the complexities of the statute of limitations in employment tax law through the case of U.S. vs. Fecondo, highlighting crucial timelines and legal consequences for non-compliance.
July 2024 Tax Updates
Bipartisan Bill Takes Up Taxpayer Advocate Recommendations to Streamline Filings 3 fixes to the US Tax code to streamline the filing process introduced. They include applying the mailbox rule to electronic submissions, updating the estimated tax payment schedule,...
Offshore Holdings: Understanding the Consequences of Failing to File Disclosures
Learn about the potential consequences of failing to comply with offshore financial disclosure requirements, including FBAR penalties, and discover why understanding these regulations is crucial.
Interest rates remain the same for the third quarter of 2024
IR-2024-138, May 9, 2024 — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2024 Home Improvements & Previously Owned Clean Vehicle Energy Credits: IR-2024-137 —making certain energy...
Offshore Tax Evasion vs. Tax Avoidance: Legal Distinctions
Learn how to minimize your taxes legally! Explore the distinctions between tax avoidance and tax evasion, learning what actions are legal and what can lead to serious consequences.
Common Employment Tax Mistakes and How to Avoid Them
Learn how to avoid common employment tax mistakes and stay compliant with IRS regulations to save time, money, and stress.
MARCH 2024 TAX UPDATES
2024-2025 IRS Priority Guidance—Want to Opine? Per Notice 2024-28, 2024-13 IRB, the IRS invites the public to submit recommendations for items to be included on the 2024-2025 Priority Guidance Plan. This document is used by the IRS to identify and prioritize tax...
IRS announces new effort focused on high-income taxpayers who have not filed returns
In the recent past, the IRS was not aggressively pursuing taxpayers who failed to file returns, including high income taxpayers, because of a lack of funding. This is all now changing. On February 29, 2024. the IRS announced in IR-2024-56, a new initiative focusing...