[ad_1] The Employee Retention Credit was intended to be a financial lifeline to small businesses struggling to make ends meet during the pandemic. The government program, seemingly flush with cash,…
Tag: Internal Revenue Service
IRS says Microsoft owes an additional $29 billion in back taxes
[ad_1] Microsoft CEO Satya Nadella arrives at federal court in Washington, D.C., on Oct. 2, 2023. Drew Angerer | Getty Images Microsoft received Notices of Proposed Adjustment from the Internal…
IRS to target ‘unscrupulous’ tax preparers amid crackdown of small business tax credit
[ad_1] The IRS has unveiled plans to crack down on tax preparers with “questionable practices.” This news comes amid heightened scrutiny of a popular small business tax credit. The agency’s…
IRS halts processing of a small business tax break amid ‘surge of questionable claims’
[ad_1] IRS Commissioner Danny Werfel ordered the agency to immediately stop processing new claims for the employee retention credit. The ERC, which was created to support small businesses during the Covid-19…
Why Migration Data Matters So Much
[ad_1] Carolina, Tennessee, Nevada, Idaho, Colorado, and Utah are the top 10 states to which households with $200,000 or more in annual income have flocked. getty In a recent incident…
The IRS is cracking down on a popular small business tax break that could lead to a costly audit
[ad_1] Pgiam | Istock | Getty Images A cottage industry of specialist firms has sprung up to help business owners claim the Employee Retention Credit (ERC), a governmental tax incentive…
Opinion | The New and Improved IRS?
[ad_1] Here’s what you’ll be getting this tax season for the $80 billion in new funding. [ad_2] Source link
Here’s What Happens at the IRS After You File Your Taxes
[ad_1] Jonathan Amy, a 74-year-old semiretired neurologist in McLean, Va., is still waiting for a nearly $10,000 refund on his 2020 taxes. His accountant e-filed his return on extension in…
Opinion | The Employee Retention Tax Credit Is the Biggest Covid Scam
[ad_1] It’s hard to feel sorry for the Internal Revenue Service, but cleaning up for Congress is never fun. The Covid employee retention tax credit is turning into a classic…