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Landscape of Employee Retention Credit Tax Issues

Withum

We are now seeing the IRS issue standardized information and document requests (IDRs) from a centralized office in Austin, Texas. The VDP allow taxpayers to keep 20% of the ERC claimed, tax free, as well as the interest received, but taxpayers must apply to the program by March 22, 2024, and agree to extend the statute of limitations.

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Can The Senate Finance Committee Save U.S. Research And Innovation?

Withum

Even though the House of Representatives passed the Tax Relief for American Families and Workers Act of 2024 , including the reinstitution of immediate expensing for domestic research expenditures, in a staggering bipartisan vote of 357 to 70, it still remains unclear if the Senate can pass this crucial legislation.

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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

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Friday Footnotes: Big 4 Culture Gets Slammed Again; Audit Leads the Way in AI; Small Firm Gripes | 11.10.23

Going Concern

See also: Academics Let AI Ruthlessly Slander Big 4 Firms, They’re Very Sorry They Didn’t Think to Fact Check Talent Don’t slack on hiring tax talent, pre-game your busy season and be ready with a fully staffed team when things get crazy. The call was about an assault that police believe never occurred.

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