Topics: IRS Guidance
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Kwong v. United States: A Potentially Significant Expansion of COVID-Era Tax Deadline Relief
Key takeaways In a closely watched November 2025 decision, the U.S. Court of Federal Claims concluded that certain federal tax deadlines may have been…
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The IRS Resumes Processing Employee Retention Credits
The IRS has ended its moratorium on processing ERC claims. The IRS announced on August 8, 2024, that it will begin processing claims…
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Pass-Through Entity Taxes & Reporting Under GAAP
Pass-Through Entity Taxes & Reporting Under GAAP 5/21/24 Introduction In connection with changes to the Internal Revenue Code as a result of the Tax…
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Employee Retention Credit Voluntary Disclosure Program
On December 21, 2023, the IRS announced a new program for taxpayers who want to pay back money they received filing for the ERC…
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Payroll Tax Deferral Procedures Announced by IRS
Late in the evening on Friday, August 28th, the IRS issued notice 2020-65. The notice seeks to expand on and clarify the payroll tax…
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Measuring “”Fair Value”” for Financial Measuring “”Fair Value”” for Financial Reporting Purposes
The balance sheet usually reflects the historic cost of assets and liabilities. But certain items must be reported at “fair value” under U.S. Generally…
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It’s critical to be aware of the tax rules surrounding your NQDC plan
Nonqualified deferred compensation (NQDC) plans pay executives at some time in the future for services to be currently performed. They differ from qualified plans,…
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Mid-Year Retirement Plan Amendments Allowed Under Court Decision
The IRS in Notice 2014-37 is allowing certain 401(k) and 403(m) retirement plans, including 403(b) plans, to make midyear amendments to reflect the U.S.…
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IRS Releases 2014 Vehicle Depreciation Deductions
The IRS has issued the annual tables providing the depreciation deductions available to owners of passenger automobiles, trucks and vans first placed in service…