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 ...
In Notice 2020-23, the IRS provided relief from tax filing deadlines occurring on or after April 1, 2020, and before July 15, 2020. SeeIRS Deadline Extensions Due to Coronavirus Disease 2019for a summary of the relief in Notice 2020-23. On April 27, 2020, the IRS issued Frequently A...
IRS Grants Relief for COVID-19 Disruptions on Tax Residency: Time Rules Are Eased for the Substantial Presence Test for Foreign Citizens in the US and the Foreign Earned Income Exclusion for US Citizens AbroadThe IRS provided relief to individuals and businesses whose tax residence might be ...
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 hav...
The Joint Chiefs of Global Tax Enforcement, consisting of the IRS’s Criminal Investigation unit, with representatives of the UK, Canada, Australia, and...
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. ...
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...
Tax Relief: IRS information about tax relief for businesses. California COVID-19 guidance and resources: Emergency resources for California businesses. Updated 5/7/20[/text_output][/vc_column][/vc_row][vc_row no_margin=”true” padding_top=”0px” padding_bottom=”0px” bg_video=”” cl...
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...
tax credits), must complete construction in 2020 in order to avoid needing to prove continuity since 2016 based on the facts and circumstances. Although delivery delays caused by COVID-19-related disruptions should fall within the list of excusable disruptions set forth by the IRS, due to the ...