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We love participating in Tax Notes! Lee A. Sheppard always has an entertaining spin on the latest tax issues, and the most recent one citing Steven Bankler’s thoughts on beneficial ownership and the Corporate Transparency Act (CTA) is no exception. As Sheppard...
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IRS business tax accounts are now available to individual partners of partnerships and individual shareholders of S corporations, a privilege that was previously available only to sole proprietors. The IRS counts the move as part of its “continuing transformation...
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While the employee retention credit (ERC) is no more, there’s still a significant tax credit on your side when hiring great workers from demographics that have historically faced significant barriers to employment: the federal Work Opportunity Tax Credit (WOTC)....
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The January 1, 2024, Texas franchise tax filing deadline was the first for some business owners to avoid paying or even filing a “no taxes due” form. The Texas franchise tax exemption has doubled, allowing up to $2.47 million of an entity’s total taxable revenue...
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The federal government is over half a billion dollars richer thanks to its increased collection of back taxes. The IRS has been making headlines with its intensified enforcement efforts to ensure that high-income individuals, large corporations, and complex...
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The IRS has restarted sending automated collection notices, ending a two-year hiatus due to the COVID-19 pandemic. The IRS temporarily suspended the mailing of automated reminders to pay overdue tax bills back in February 2022. Affected taxpayers would have received...
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