Category: Tax
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Federal Regulators Expand Overtime Pay Requirements, Ban Most Noncompete Agreements
May 09, 2024
The U.S. Department of Labor (DOL) has issued a new final rule regarding the salary threshold for determining whether employees are exempt from federal overtime pay requirements. The threshold is … Continued
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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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There’s a New Threshold for Electronically Filing Information Returns
January 19, 2024
Does your business file 10 or more information returns with the IRS? If so, you must now file them electronically. This is a significant rule change that went into effect … Continued
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IRS Suspends Processing of ERTC Claims
September 20, 2023
In the face of a flood of illegitimate claims for the Employee Retention Tax Credit (ERTC), the IRS has imposed an immediate moratorium through at least the end of 2023 … 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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Social Security’s Future: The Current Situation & Potential Solutions
May 25, 2023
Recent reports have raised new concerns about the impending insolvency of the Social Security program, absent congressional action. Social Security reform has long been considered a “third rail” of American … Continued
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U.S. Supreme Court Rules Against the IRS on Critical FBAR Issue
March 20, 2023
The U.S. Supreme Court recently weighed in on an issue regarding a provision of the Bank Secrecy Act (BSA) that has split two federal courts of appeal. Its 5-4 ruling … Continued
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Reading the Tea Leaves: Potential Tax Legislation in the New Congress
February 16, 2023
The 2022 mid-term election has shifted the scales in Washington, D.C., with the Democrats no longer controlling both houses of Congress. While it remains to be seen if — and … Continued