Newsletters

The U.S. Supreme Court has reversed a 5th Circuit Court of Appeals decision on how the FBAR penalty applies.

The IRS has issued Notice 2023-13, which contains a proposed revenue procedure that would establish the Service Industry Tip Compliance Agreement (SITCA) program, a voluntary tip reporting program between the IRS and employers in various service industries.

When an S corporation is operated out of the shareholder’s residence, it is typical that the shareholder/employee is reimbursed for office in home and travel expenses under and accountable plan.

A taxpayer must file a claim for credit or refund within three years from the time the taxpayer’s return was filed or two years from the time the tax was paid, whichever period expires later.

There are new requirements to claim an up to $7,500 tax credit on the purchase of a clean vehicle, effective for 2023.

The IRS recently issued a fact sheet on their website that addresses frequently asked questions related to new, previously-owned, and qualified commercial clean vehicles.

The Internal Revenue Service has released a new set of tax gap estimates on tax years 2014 through 2016 showing the estimated gross tax gap increased to $496 billion, a rise of over $58 billion from the prior estimate.

Always endeavoring to serve our clients better, we have compiled some additional resources as you prepare to file your taxes this year. Take a look!

The Internal Revenue Service recently completed the final corrections of tax year 2020 accounts for taxpayers who overpaid their taxes on unemployment compensation they received in 2020.

The Internal Revenue Service has announced a delay in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season.