The IRS recently updated its guidance regarding the Employee Retention Credit’s (ERC) effect on taxable income. The IRS has consistently...

On the afternoon of Friday, March 21st, the following announcement was posted on the FinCEN website. Click here to read...

The U.S. Treasury Department said Sunday it won’t enforce penalties or fines against U.S. citizens or domestic reporting companies or...

Hot off the press: FinCEN states that 3/21/25 is not the real deadline! FinCEN is not issuing fines or penalties in...

On February 18, 2025, there was a decision by the U.S. District Court in Texas in Smith et al. v. U.S....

On Monday, February 10, 2025, the House approved legislation by a unanimous 408-0 vote that would grant small businesses formed before...

As a reminder, for applicable transfers, copies of Form 8308, “Report of a Sale or Exchange of Certain Partnership Interests,”...

Starting in 2024, third-party settlement organizations (TPSOs) such as Venmo, Etsy, and CashApp were required to issue 1099-K forms to...

Yesterday, 12/26/24, a Fifth Circuit panel reinstated the preliminary injunction that prohibits the enforcement of the Corporate Transparency Act (CTA)....

This afternoon, 12/23/2024, the Fifth Circuit Court of Appeals granted a stay, temporarily overturning a lower court’s decision to block...

The deadline for most reporting companies to file Beneficial Ownership Information (BOI) reports (requirements can be found here) is quickly...

Form 5500 discloses financial and compliance information about welfare benefit plans, including health insurance, life insurance, disability benefits, and other...

On July 11, Pennsylvania Gov. Josh Shapiro signed into law the 2024-2025 budget (S.B. 654), which amends several important business...

Lawmakers have announced a tentative agreement for bipartisan tax legislation. It has not yet been voted on by the Senate...

In response to rising gasoline prices, the IRS has announced an increase to the optional standard mileage rates for business,...

New York Governor Kathy Hochul recently passed several pieces of legislation in connection with the New York 2023 fiscal year...

As part of the ongoing discussions regarding proposed tax law changes, the recent proposal regarding the exclusion for the sale...

In December 2019, the IRS released the 2020 optional standard mileage rates to be used by taxpayers to compute deductible...