Hours: Monday - Friday 8:00 am - 5:00 pm

Resources

Search Results

Congressional midterm election results anxiously awaited

Congressional midterm election results anxiously awaited

Tax and midterm elections: Whether or not Republicans take control of the House, tax policy centers on a year-end extenders bill.
IRS opens determination letter program for 403(b) plans

IRS opens determination letter program for 403(b) plans

Revenue Procedure 2022-40, allows 403(b) retirement plans to use the same individually designed retirement plan determination letter program currently used by qualified retirement plans.
IRS makes statements on CARES Act Employee Retention Tax Credit risks

IRS makes statements on CARES Act Employee Retention Tax Credit risks

On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.
Avoid these common pitfalls when establishing a retirement plan

Avoid these common pitfalls when establishing a retirement plan

When establishing a retirement plan, be sure to avoid common missteps when setting up your company’s retirement plan.
Inflation Reduction Act passes Senate; House vote expected this week

Inflation Reduction Act passes Senate; House vote expected this week

The Inflation Reduction Act contains incentives for investment in the energy sector, a corporate alternative minimum tax, an excise tax on stock buybacks, IRS funding and an extension of business loss limitations.
Inflation Reduction Act passes Senate; House vote expected this week

Inflation Reduction Act passes Senate; House vote expected this week

The Inflation Reduction Act contains incentives for investment in the energy sector, a corporate alternative minimum tax, an excise tax on stock buybacks, IRS funding and an extension of business loss limitations.
Retirement plan amendment deadlines extended

Retirement plan amendment deadlines extended

The IRS extended the due dates for plan sponsors to incorporate required amendments under the SECURE, CARES, and Miners Acts. Plan sponsors should review these deadlines with their service providers.
IRS issues stern warning that abusive microcaptive insurance schemes will be aggressively targeted

IRS issues stern warning that abusive microcaptive insurance schemes will be aggressively targeted

The IRS has recently announced that it will aggressively review microcaptive insurance arrangements.
States begin to consider digital asset taxation as sessions end

States begin to consider digital asset taxation as sessions end

A number of states begin to consider or take steps related to the state taxation of digital assets as the economy for these assets continues to grow.
IRS 90-day pre-examination compliance pilot for retirement plans

IRS 90-day pre-examination compliance pilot for retirement plans

The IRS is piloting a pre-examination compliance program for retirement plans, which provides plan sponsors with 90-day window to review plan operations and make corrections prior to examination.
Superfund excise tax FAQs and tax rates released by the IRS

Superfund excise tax FAQs and tax rates released by the IRS

The IRS issued FAQs regarding the Superfund chemical excise tax and tax rates today to help those taxpayers who may be impacted.
IRS to process all Forms 1040 originally filed in 2021 by end of week

IRS to process all Forms 1040 originally filed in 2021 by end of week

Despite persistent challenges facing the IRS, the agency is on track to process all Forms 1040 originally filed in 2021 this week, with remaining inventory processed soon after.
IRS increases mileage rates for the remainder of 2022

IRS increases mileage rates for the remainder of 2022

The IRS provides some relief amid rising gas prices with an optional increase to the standard mileage rate for business travel.
Congress open to considering a pause on automated tax notices

Congress open to considering a pause on automated tax notices

National Taxpayer Advocate, Erin Collins, recommends the IRS pause automated collection notices. Congress may consider the recommendation.
IRS releases guidance on Q4 removal of employee retention credit

IRS releases guidance on Q4 removal of employee retention credit

Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021.
IRS releases 2022 retirement plan limitations

IRS releases 2022 retirement plan limitations

The IRS has released its annual cost-of-living adjustments for retirement plan limits, effective Jan. 1, 2022.