Your #1 guide to start a business and grow it the right way…
Search
Tax Preparation
Your CPAs Guide To The New ERC Crisis
IRS Announces Moratorium on the Employee Retention Credit and Provides Guidance for Civil Penalty Amnesty to Withdrawing Improper Claims, Also Known As - Don’t Deposit That Check and Hire Legal Counsel The expansion and strong marketing tactics of good-for-nothing “accounting advisors” who encouraged taxpayers to qualify for the Employee Retention Credit (“ERC”) when they did not technically qualify has caused…
Wake up with our popular morning roundup of the day's top military and defense stories
Stay Updated
Get the latest headlines, discounts for the military community, and guides to maximizing your benefits
More Stories
Florida Police Deputies Charged With Stealing Nearly A Half Million Dollars In Covid Funds
We tend to think that police officers are busily enforcing our laws, but prosecutors in the Southern District of Florida allege that more than a dozen officers did just the opposite. Seventeen deputies in the Broward County Sheriff's Office are accused of Covid-19 fraud-related charges totaling nearly half a million…
Could A Trump Corporate Tax Rate Cut To 15 Percent Raise Revenue?
Former President Donald Trump and his campaign advisers are discussing a corporate tax rate cut to 15 percent paid for with a 10 percent across-the-board tariff. At the same time, it is becoming increasingly clear that most of U.S. multinationals’ mobile profits are now booked in tax havens, and we…
Canadian Tax Essentials For Foreign E-Commerce Businesses
Canada stands as the 9th largest e-commerce market, poised to reach a remarkable revenue of $55 billion by 2023. This dynamic market promises substantial growth, with an anticipated compound annual growth rate of 10.6%, potentially surging to a market volume of $83 billion by 2027. However, foreign e-commerce businesses entering…
Wall Street Journal Supports Abusive Conservation Tax Shelters
I had a hard time figuring out how to respond to a piece by the Editorial Board of the Wall Street Journal - A Case of Tax Fraud - at the IRS (Agent backdated documents to punish legal deductions). They were referring to an IRS screwup that has gotten a…
IRS Gives Tax Extension For Israel Terrorist Attack Impact To 10/7/24
The IRS has announced tax relief for individuals and businesses affected by the terrorist attacks in the State of Israel. These taxpayers now have until Oct. 7, 2024, to file various federal returns, make tax payments and perform other time-sensitive tax-related actions. In Notice 2023-71, the IRS provided relief to…
IRS Gives Taxpayers Impacted By The Terrorist Attacks In Israel More Time To File
The IRS has announced tax relief for individuals and businesses affected by the terrorist attacks in the State of Israel. These taxpayers now have until Oct. 7, 2024, to file various federal returns, make tax payments, and perform other time-sensitive tax-related actions. Affected Taxpayers The relief is extended to any…
IRS Contractor Pleads Guilty To Stealing And Disclosing Tax Return Information
An IRS contractor, Charles Littlejohn, 38, of Washington, D.C., has pleaded guilty to disclosing tax return information without authorization. Littlejohn was initially charged on information on Sept. 29, 2023, with one count of disclosing tax return information without authorization. Generally, being charged on information means that a defendant has pleaded…
IRS Announces 2023-2024 Per Diem Rates For Taxpayers Who Travel For Business
The IRS has released its annual update of special per diem rates for taxpayers to use in substantiating business expenses while traveling away from home. The new numbers are effective as of October 1, 2023, and are to be used for per diem allowances paid to any employee on or…
IRS Says Tax Gap For 2021 Expected To Be $688 Billion
The good news: Most taxpayers pay what they owe in full and on time. A report released by the IRS indicates that the nation's tax compliance rate is holding at 85%, more or less the same as in prior years. The not so good news: New tax gap projections for…
Why The Appeal In The Medtronic Tax Case Matters
The IRS has appealed the Tax Court's second decision in Medtronic Inc. v. Commissioner, and the Eighth Circuit’s ruling will have major reverberations for a particularly high-stakes and litigation-prone area of tax law. In early September, the IRS wisely decided to appeal the Tax Court's decision in Medtronic II, T.C.…
Most Popular
Creative Ways Startups Can Earn Funding in Tough Economic Times
In a declining economy, startups face an uphill battle when it comes to securing funding.…
I Asked AI to Create a Plan for a Fake Company — The Results Blew Me Away, But Not in the Way You Might Think
With all of the recent news about artificial intelligence (AI), it got me thinking about…
Ideas To Transform You From Good To Better To Best
A while back, I took a couple of my grandchildren on a tour of the…
5 Crucial Challenges Startups Must Overcome
Startups face numerous challenges on their journey to success, and failing to overcome any one…