Holland & Knight
Citing rising concern over a "flood" of improper Employee Retention Credit (ERC) claims filed by businesses, many with the assistance of ERC claim promoters...
The Tax Cuts and Jobs Act of 2017 introduced significant changes to the tax treatment of specified research and experimentation (SRE) expenditures.
Miller & Chevalier Chartered
This week looks hectic as House GOP leaders and the Biden administration stare down each other over funding the government. But before we get to the Saturday shutdown deadline...
Dickinson Wright PLLC
The Employee Retention Tax Credit ("ERC"), enacted as a part of the Coronavirus Aid, Relief and Economic Security Act ("CARES Act"), is a fully refundable tax credit for employers, which is up to...
Pillsbury Winthrop Shaw Pittman
A California trial court denied summary judgment in the American Catalog Mailers Association's (ACMA) action that seeks to invalidate Franchise Tax Board (FTB) guidance that says certain online...
On September 14, 2023, the IRS announced an immediate moratorium on processing new claims for the Employee Retention Credit (ERC). According to the IRS announcement (IR-2023-169)...
Poyner Spruill LLP
For many business owners, tax season can be stressful. These four tips can help you lessen the chances of triggering a tax audit.
Greensfelder, Hemker & Gale
Under current law, in 2023 individuals are able to give away during their lifetime, or pass along to others at their death, up to $12.92 million in assets...
Flaster Greenberg PC
On August 29, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) released proposed regulations implementing the Prevailing Wage and Registered Apprenticeship provisions...
In the face of a flood of illegitimate claims for the Employee Retention Tax Credit (ERC), the IRS has imposed an immediate moratorium through at least the end of 2023 on processing new claims for the credit.
Thompson Coburn LLP
The Missouri Historic Structures Rehabilitation Tax Credit (the "Credit") Program (the "Program") was launched in 1998 and provides eligible taxpayers with a Credit equal to twenty-five percent...
The Internal Revenue Service announced on Sept. 14, 2023, an immediate moratorium on the processing of Employee Retention Credit (ERC) claims that is anticipated to last at least through the end of the year.
Released on September 8, 2023, the IRS provided wide-ranging and potentially controversial guidance on the capitalization and amortization of research and experimentation expenses...
The IRS postponed deadlines to file various individual and business tax returns and make tax payments for taxpayers affected by Hurricane Idalia in Florida and in South Carolina.
Winston & Strawn LLP
A Tax Court Memorandum Opinion expressing no confidence that a "slipshod-cut-and-paste" notice of deficiency was the version of the notice actually sent to the taxpayer is the latest...
Caplin & Drysdale
The IRS is ramping up collections, examinations, and audits of wealthy Americans and their large partnership companies as part of a crackdown that may affect financial advisors' clients.
Caplin & Drysdale
Peter Barnes wrote the article "Turning Point: A Century of International Tax Policy Flies toward a Sharp Curve" for IBFD Talking Points.
A common question we receive from founders is whether to organize their start-up business as a corporation or as an LLC. While there are many non-tax related factors that need to be considered, this is often...
Given the exorbitant costs of higher education, many parents begin saving for college when their children are very young.
In a recent case, Villa-Arce v. Commissioner, a whistleblower sent information to the IRS that he believed showed that the company was using improper transfer pricing practices and taking unjustified deductions.