January 15, 2024
Although there have not been many tax law changes this year, one tax policy change being implemented this year is sure to cause confusion for a plethora of our clients. That change is the new reporting requirements for the 1099-K.
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January 9, 2024
The U.S. Department of Labor recently announced a final rule intended to help employers and workers better understand when a worker qualifies as an employee and when they may be considered an independent contractor under the Fair Labor Standards Act.
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January 9, 2024
With tax season rapidly approaching, the IRS is reminding employers that Jan. 31 is the deadline for submitting wage statements and forms for independent contractors with the government.
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January 9, 2024
The IRS recently announced it is providing tax relief for individuals and businesses in parts of Tennessee affected by severe storms and tornadoes that began on Dec. 9.
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January 8, 2024
The IRS recently announced that it will begin accepting and processing 2023 tax year returns on Monday, Jan. 29, 2024.
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December 21, 2023
As part of an ongoing initiative aimed at combating dubious Employee Retention Credit claims, the IRS recently launched a new Voluntary Disclosure Program to help businesses who want to pay back the money they received after filing ERC claims in error.
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December 19, 2023
The IRS recently announced new penalty relief for approximately 4.7 million individuals, businesses and tax-exempt organizations that were not sent automated collection reminder notices during the pandemic.
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December 14, 2023
The IRS recently issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
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November 21, 2023
Following feedback from taxpayers, tax professionals and payment processors and to reduce taxpayer confusion, the IRS released Notice 2023-74 announcing a delay of the new $600 Form 1099-K reporting threshold for third-party settlement organizations for calendar year 2023.
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November 17, 2023
The U.S. Department of the Treasury and the IRS recently issued proposed regulations that provide guidance under a new section of the law that disallows deductions for certain charitable conservation contributions by partnerships and other pass-through entities.
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