Category: Advisory
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IRS Extends Relief for Inherited IRAs
May 02, 2024
For the third consecutive year, the IRS has published guidance that offers some relief to taxpayers covered by the “10-year rule” for required minimum distributions (RMDs) from inherited IRAs or … Continued
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IRS Issues Guidance on Tax Treatment of Energy Efficiency Rebates
April 29, 2024
The Inflation Reduction Act (IRA) established and expanded numerous incentives to encourage taxpayers to increase their use of renewable energy and adoption of a range of energy efficient improvements. In … Continued
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Corporate Transparency Act, SECURE 2.0 and more!
January 22, 2024
Enjoy our latest BLS Video Update where Karly Laughlin, CPA, AEP and Mike Kelly, CPA discuss Corporate Transparency Act, SECURE 2.0 and more! Topics include General Updates with Karly Laughlin, CPA, … Continued
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Delaware Paid Leave – January 1, 2024 Deadline for Certain Employers
December 13, 2023
Delaware employers who meet either of the below criteria should be aware of the upcoming January 1, 2024, deadline. Please contact the Delaware Department of Labor or your HR … Continued
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IRS Delays New Reporting Rule for Online Payment Processors
December 06, 2023
For the second consecutive year, the IRS has postponed the implementation of a new rule that would have led to an estimated 44 million taxpayers receiving tax forms from payment … Continued
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What you need to know about the Corporate Transparency Act
November 29, 2023
*Updated 11/30/2023 based on the final ruling from FinCEN.* *Clarified penalty information 1/25/2024* The Corporate Transparency Act (CTA) was enacted into law as part of the National Defense Act for … Continued
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The 2024 cost-of-living adjustment numbers have been released: How do they affect your year-end tax planning?
November 20, 2023
The IRS recently issued its 2024 cost-of-living adjustments for more than 60 tax provisions. With inflation moderating slightly this year over last, many amounts will increase over 2023 amounts but … Continued
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IRS Offers a Withdrawal Option to Businesses that Claimed ERTCs
October 30, 2023
Recent IRS warnings and announcements regarding the Employee Retention Tax Credit (ERTC) have raised some businesses’ concerns about the validity of their claims for this valuable, but complex, pandemic-related credit … Continued
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IRS Warns Businesses about ERTC Scams
August 17, 2023
The airwaves and internet are inundated these days with advertisements claiming that businesses are missing out on the lucrative Employee Retention Tax Credit (ERTC). While some employers do indeed remain … Continued
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Virtual Currency Lands in the IRS’s Crosshairs
June 29, 2023
While the value of virtual currency continues to fluctuate, the IRS’s interest in it has only increased. In 2021, for example, the agency launched Operation Hidden Treasure to root out … Continued