by Russell Green | Nov 21, 2022 | IRS Resources
November 20, 2022 On August 16, 2022, President Biden signed into law the Inflation Reduction Act (IRA) which includes significant changes related to healthcare and energy/climate change related credits. It also provides $78.9B in additional funding to the IRS. Here...
by Russell Green | Oct 29, 2021 | IRS Resources
October 29, 2021 The IRS continues to issue guidance on the employee retention credit, a credit that was adopted in March 2020. The credit was created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L 116-136, and amended by the Consolidated...
by RGcpa | Jan 24, 2019 | IRS Resources
One of the more impactful elements of the Tax Cuts and Jobs Act is the new Section 199A deduction on qualified business income (QBI). One of the open issues for taxpayers has been to determine whether a rental activity is a qualified trade or business. The IRS has...
by RGcpa | Jan 23, 2019 | IRS Resources
Many of federal changes associated with the Tax Cuts and Jobs Act (TCJA) will flow-through to state tax returns. However, although federal adjusted gross income is used as a starting point, a state can decide not follow (or “decouple” from) the federal law. New York...
by RGcpa | Jan 8, 2019 | IRS Resources
The Tax Cuts and Jobs Act of 2017 (TCJA) was signed into law on December 22, 2017. It represents the most extensive tax legislation in over 30 years. Here is a summary of some of the key changes affecting individual taxpayers. Most of which take effect for 2018 and...
by RGcpa | Jan 7, 2019 | IRS Resources
If you have not filed or missed a deadline, what is the best way to handle the filing of delinquent returns. www.irs.gov/businesses/small-businesses-self-employed/filing-past-due-tax-returns
