SECURE 2.0 Act significantly changes the tax rules governing qualified retirement plans and individual retirement accounts (IRAs).
Key takeaways for employers under the SECURE 2.0 Act of 2022
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Insight Search Results
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.
Alabama tax tribunal rules taxpayer entitled to interest deduction
In a July 28, 2022, decision, the Alabama tax tribunal issued a taxpayer-favorable verdict and provided clarity on how the intercompany add-back and subject-to-tax exception provisions should apply.
IRS releases new guidance on R&D credit refund claim procedure
The IRS released a memorandum and FAQs to provide procedural guidance regarding R&D credit refund claims on amended tax returns.
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 guidance on timing of tax-exempt income for PPP loans
IRS releases Rev. Procs. 2021-48, 2021-49 and 2021-50 to address the treatment of tax-exempt income for PPP loans.
House passes infrastructure legislation; sends bill to President Biden
Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week.
House proposed changes – What should wealthy individuals consider?
What are the proposed tax changes affecting individual taxpayers and what should you consider today to limit your exposure to these changes?
IRS issues employee retention credit gross receipt exclusion procedure
Rev. Proc. 2021-33 allows exclusion of PPP, restaurant revitalization and shuttered venue operator grants from ERTC gross receipts test.
IRS enhances employee retention credit guidance for open questions
Notice 2021-49 provides answers on previously uncertain issues and addresses changes implemented in the American Rescue Plan Act.