IRS Tax Audits Targeting Maryland Businesses: Common Issues and Potential Defense Strategies
Posted in News, Offshore Account Update on March 15, 2024
Posted in News, Offshore Account Update on March 15, 2024
Posted in News, Offshore Account Update on February 16, 2024
Posted in Hot Topics, News, Offshore Account Update on January 12, 2024
The Internal Revenue Service (IRS) is continuing to target fraud under the pandemic-era Employee Retention Credit (ERC) program. After announcing a withdrawal option in October 2023 for businesses that claimed the ERC improperly, the IRS sent an “initial round” of more than 20,000 disallowance letters to businesses in December. It followed these efforts with the announcement of a limited-time ERC Voluntary Disclosure Program (ERC-VDP) a few weeks later.
Read MorePosted in Hot Topics, News, Offshore Account Update on October 31, 2023
Posted in News, Offshore Account Update on June 12, 2023
Whether you use crowdfunding to kickstart your business, you receive support through crowdfunding after a life-altering event, or you contribute to a crowdfunding campaign, it is important to understand what this means (and doesn’t mean) for your federal income taxes. Crowdfunding has different tax implications under different circumstances, and knowing how the Internal Revenue Code applies to your circumstances is critical for avoiding unwanted scrutiny from the Internal Revenue Service (IRS).
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