The IRS makes these adjustments every year. While the 2022 federal tax brackets have reflected changes;it's the 2023 changesthat are likely to make more of a difference, according to Armine Alajian, a CPA and the founder of the Alajian Group. "Taxpayers will likely see the effect of the ...
Tax attorney Daniel Strickland was interviewed by Bloomberg Tax about the IRS' latest efforts to go after fraudulent and overstated employee retention tax credit (ERC) claims. The ERC was created to help businesses keep employees on payroll during the pandemic, but subsequent audits have...
The deadline to report your erroneous ERC claim and repay a portion of the improperly paid funds is next week, Friday,... Read more → Posted on Tuesday, November 12, 2024 at 05:29 PM in Audit, Business, Coronavirus COVID-19, Credits, IRS, Tax Tip, Taxes | Permalink | Comments (...
The Joint Chiefs of Global Tax Enforcement, consisting of the IRS’s Criminal Investigation unit, with representatives of the UK, Canada, Australia, and the Netherlands (known as the Joint Chiefs of Global Tax Enforcement or the J5) meets yearly to discuss and cooperate on combating common ...
If the IRS issues a notice of determination with respect to a collection action, a taxpayer only has thirty days to file a petition for redetermination in the U.S. Tax Court. The FAQs confirm that, where the deadline to file a petition for redetermination is on or after April 1, 20...
Friday, Treasury Secretary Steven Mnuchin announced that the IRS will be moving the income tax filing deadline from April 15th, 2020 to July 15th, 2020. Saturday the IRS issued a news release confirming this here:https://www.irs.gov/newsroom/tax-day-now-july-15-treasury-irs-extend-fi...
IRS to pause accepting claims for COVID-era tax credit amid fraudulent claims The tax credit, called the Employee Retention Credit, was created to help small businesses keep paying their employees during the pandemic if they were suspended from operating. ...
IRS Tax Deferral |Implemented As the numbers of confirmed cases of COVID-19 continue to increase in the United States, the federal government is taking action to reduce the impact on taxpayers. Specifically, the Internal Revenue Service (IRS) has officially announced that thedue date for making...
The myriad ways scammers try to steal our information can be dizzying. Simply spreading awareness of the term “phishing” has been a goal of the Security Summit—a partnership between the IRS, state departments of revenue, and members of the tax industry—since it was founded. Learning to ...
Approximately 1 million taxpayers will receive unclaimed rebate payments from the IRS in the coming weeks. December 22, 2024 1:20pm PST video Federal reserve issues final rate cut of 2024, what's next? The U.S. Federal Reserve has issued their final rate cut of 2024, saying that what hap...