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ERC IRS Audit Representation: Your Comprehensive FAQ Guide

MyIRSRelief

ERC IRS Audit Representation: Your Comprehensive FAQ Guide The Employee Retention Credit (ERC) has been a lifeline for many businesses during challenging times, providing substantial relief. However, with the IRS actively scrutinizing ERC claims, it’s crucial for businesses to understand their rights and options when facing an audit.

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Sales tax ‘responsible party’ laws still going strong

TaxConnex

Most states’ sales tax registration forms ask for Social Security or driver’s license numbers (or both) of at least one corporate officer or executive. Know the nuances of the law in states where you have collect and remit sales tax, because states take this all seriously.

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Best Practices for Managing a Sales Tax Audit

TaxConnex

If you and your company haven’t been hit with a sales tax audit yet, congrats. In TaxConnex’s recent market survey more than one in four (26.7%) top finance professionals in a variety of industries report seeing an increase in state sales tax audits in the past two years. Sales Tax Audit Triggers.

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Florida Lawyer Gets 8 Years in Prison for Fraudulent Charity Tax Claims

CPA Practice

In some instances, Meyer backdated documents so that clients could claim purported donations on their prior years’ tax returns. Indeed, the IRS conducted several audits of Meyer’s charities, and found that the Ultimate Tax Plan was an economic sham. The court will determine restitution at a later date.

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Florida Lawyer Gets 8 Years in Prison for Fraudulent Charity Tax Claims

CPA Practice

In some instances, Meyer backdated documents so that clients could claim purported donations on their prior years’ tax returns. Indeed, the IRS conducted several audits of Meyer’s charities, and found that the Ultimate Tax Plan was an economic sham. The court will determine restitution at a later date.

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New IRS Employee Retention Credit (ERC) Claim Withdrawal Process

Cherry Bekaert

For non-audited taxpayers or those without a check to return, the withdrawal form should be faxed to 855-738-7609. If a refund check was received, void it, include a statement for “ERC withdrawal,” and return it with an explanation to Cincinnati Refund Inquiry Unit, PO Box 145500, Mail Stop 536 G, Cincinnati, Ohio, 45250.

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Friday Footnotes: EY’s Six CEO Candidates; Deloitte UK Partner Payouts Increase Again; IIA Gets Their Way | 9.29.23

Going Concern

Smucker — makers of Smucker’s jam, Folger’s coffee and Jif peanut butter — has an innovative return to office policy. The company expects each of its roughly 1,300 Orrville, Ohio-based corporate workers to be on site for 22 “core” weeks a year. Still, the results give offshore bondholders something to chew on.

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