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Bad debt tax deduction method proposed for financial institutions

Bad debt tax deduction method proposed for financial institutions

Banks and insurance companies would see a simplification of their tax reporting of credit losses under proposed regulations.
Remote workforces are complicating state tax nexus and withholding

Remote workforces are complicating state tax nexus and withholding

As businesses increase the use of remote workforces, nexus and withholding determinations can greatly complicate state tax compliance.
Compensation and benefits planning can help you navigate an aging workforce

Compensation and benefits planning can help you navigate an aging workforce

Considerations for structuring compensation and benefit plans that help companies minimize the costs and risks of retiring workers.
IRS announces details for ERC Voluntary Disclosure program

IRS announces details for ERC Voluntary Disclosure program

IRS provides VD Program for employers to return ERC refunds and avoid penalties and interest. Employers must apply by March 22, 2024.
IRS issues guidance on the transfer of clean vehicle credits

IRS issues guidance on the transfer of clean vehicle credits

The IRS and the Treasury Department have released guidance on how buyers can transfer clean vehicle credits to dealers at the time of purchase.
Are ESOPs a good fit for business and professional services (BPS) companies?

Are ESOPs a good fit for business and professional services (BPS) companies?

ESOPs can be advantageous to BPS companies, but their success ultimately depends on several key factors - culture, messaging and ownership goals.
Exempt organization inflation adjusted items for 2024

Exempt organization inflation adjusted items for 2024

Rev. Proc. 2023-34 provides annual inflation adjustments for tax year 2024, including those relevant to exempt organizations.
Supreme Court tax case could have outsized ramifications on income taxation

Supreme Court tax case could have outsized ramifications on income taxation

The Supreme Court's ruling in Moore v. United States could reshape Congress' authorization to tax income.
IRS releases 2024 retirement plan limitations

IRS releases 2024 retirement plan limitations

Cost-of-living adjustments to retirement plan limits for 2024 have been issued by the IRS in Notice 2023-75.
IRS updates e-signature policy and releases online accounts for sole proprietors

IRS updates e-signature policy and releases online accounts for sole proprietors

The IRS makes permanent e-signature guidance generated in response to COVID pandemic and launches online business tax account for sole proprietors
IRS announces ERC Withdrawal Program

IRS announces ERC Withdrawal Program

IRS announces simplified method for employers who have not yet received ERC refunds to withdraw claims that they now believe are ineligible.
IRS releases initial rules for expenditures under section 174

IRS releases initial rules for expenditures under section 174

IRS issues Notice 2023-63 outlining how taxpayers should treat their research and development expenditures under section 174.
IRS halts employee retention credit processing

IRS halts employee retention credit processing

The IRS has temporarily halted processing of employee retention credit claims and will provide additional guidance for businesses.
New guidance released on clean energy credit labor requirements

New guidance released on clean energy credit labor requirements

The IRS and Treasury released proposed regulations with respect to prevailing wage and apprenticeship requirements for clean energy tax incentives.
IRS updates guidance on environmental justice solar and wind capacity limitation

IRS updates guidance on environmental justice solar and wind capacity limitation

Treasury and the IRS have released final regulations and a revenue procedure providing guidance on program under section 48(e).
Proposed regulations for digital assets are here!  Now what?

Proposed regulations for digital assets are here! Now what?

Proposed regulations for digital asset reporting under section 6045 will require brokers to report sales and exchanges of digital assets to the IRS.