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What You Need to Know to Prepare for IRS Crypto Compliance
Cryptocurrency owners, along with the financial experts and legal professionals who guide them, should take heed of the Internal Revenue Service’s (IRS) current efforts to ensure compliance among those involved […]
Read MoreNavigating the IRS Update on Corporate Alternative Minimum Tax (CAMT)
Taxes in general can be complicated, and we wanted to break down the recent IRS update concerning corporate taxes, specifically the Corporate Alternative Minimum Tax (CAMT). What is CAMT? CAMT […]
Read MoreERC Fraud so Rampant IRS Halts Processing Claims
Last April, we discussed how the proliferation of Employee Retention Credit (ERC) scams prompted the IRS to add them to their annual Dirty Dozen list of tax scams. Now, six […]
Read MoreIRS Updates Per Diem Rates for Travel Expenses
If you travel for work, take note: The IRS recently released Notice 2023-68, which has significant implications for those who frequently travel for business or work-related purposes. Understanding IRS Notice […]
Read MoreComing Changes in Overtime Pay: What You Need to Know
You might have heard about some changes coming to overtime pay regulations, and we’re here to break it down for you in simple terms. The U.S. Department of Labor’s Wage […]
Read MoreNavigating International Markets: Opportunities and Challenges for Your Business
Expanding into international markets can be an exciting venture for any business, offering the promise of new revenue streams and growth opportunities. However, it’s crucial to recognize that along with […]
Read MoreConstruction Sector Under the Microscope as Payroll Tax Evasion Increases
The Financial Crimes Enforcement Network (FinCEN) has recently reported a noticeable uptick in state and federal payroll tax evasion, as well as workers’ compensation fraud, particularly within the U.S. residential […]
Read MoreIRS Ends Most Unannounced Home Visits
As of July 24, 2023, the Internal Revenue Service (IRS) has decided to discontinue the practice of making unannounced visits to taxpayers’ homes and businesses, except in very limited circumstances. […]
Read MoreConnecticut’s Enhanced Apprenticeship Tax Credit for Manufacturers
In a bid to reshape Connecticut’s manufacturing sector and fortify its workforce with skilled workers, the Apprenticeship Tax Credit (ATC) was expanded last year to include S corporations, partnerships, and […]
Read MoreIRS Announces Relief for Required Minimum Distributions: What You Need to Know
The IRS recently announced some important transition relief for plan administrators, payors, and retirees concerning required minimum distributions (RMDs) under the SECURE 2.0 Act of 2022. Here’s what this means […]
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