Happy 4th of July!
“America was built on courage, on imagination and an unbeatable determination to do the job at hand.” -Harry S. Truman Wishing you a happy and safe 4th of July!
Read More Happy 4th of July!TIGTA completes audit of Child Tax Credit
The Treasury Inspector General for Tax Administration (TIGTA) has completed another audit of IRS processes for the 2021 advance Child Tax Credit (CTC). The American Rescue Plan Act enabled eligible taxpayers to receive up to one half of their estimated 2021 CTC in advance monthly payments for part of the year. As a result, the […]
Read More TIGTA completes audit of Child Tax CreditSources of Personal Income, Tax Year 2020
Sources of Personal Income, Tax Year 2020 https://bit.ly/3r8Bdjv
Read More Sources of Personal Income, Tax Year 2020SCOTUS agrees to hear case on Tax Cuts and Jobs Act
The U.S. Supreme Court has agreed to hear a constitutional challenge to a tax established by the Tax Cuts and Jobs Act. The taxpayers, a married couple, owned shares in a controlled foreign corporation (CFC). This made them subject to the mandatory repatriation tax (MRT), which says that owners of 10% or more shares of […]
Read More SCOTUS agrees to hear case on Tax Cuts and Jobs ActHow High Are Beer Taxes in Your State?
How High Are Beer Taxes in Your State? https://bit.ly/3NB2wdO
Read More How High Are Beer Taxes in Your State?Qualifying for the Work Opportunity Tax Credit
Test your Knowledge: Qualifying for the Work Opportunity Tax Credit
Read More Qualifying for the Work Opportunity Tax CreditState Tax Changes Taking Effect July 1, 2023
State Tax Changes Taking Effect July 1, 2023 https://bit.ly/3NWg6tV
Read More State Tax Changes Taking Effect July 1, 2023Understanding Backup withholding requirements
Businesses need to be aware of the rules for backup withholding, if required. Backup withholding, currently 24%, applies to income not typically subject to withholding. If your business makes certain payments to people who haven’t provided you with their legal names and taxpayer ID numbers (TINs), or if the IRS notifies you that a payee’s […]
Read More Understanding Backup withholding requirementsTax Treaty with Chile goes to the President’s desk
In a nearly unanimous vote, a tax treaty between the United States and Chile passed the U.S. Senate on June 22, 2023. Supporters say this could boost investment between the two countries by greatly reducing certain taxes. U.S. citizens and residents who pay taxes to Chile will be able to claim a tax credit on […]
Read More Tax Treaty with Chile goes to the President’s deskHow Would the American Families and Jobs Act Change Opportunity Zones?
How Would the American Families and Jobs Act Change Opportunity Zones? https://bit.ly/3NzTC03
Read More How Would the American Families and Jobs Act Change Opportunity Zones?
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