Sep 14, 2023 | News and Alerts
In December 2022, President Biden signed the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act. Among other things, the sweeping new law made some significant changes to so-called catch-up contributions, with implications for both employers and... continue reading »
Aug 17, 2023 | News and Alerts
The airwaves and internet are inundated these days with advertisements claiming that businesses are missing out on the lucrative Employee Retention Tax Credit (ERTC). While some employers do indeed remain eligible if they meet certain criteria, the IRS continues to... continue reading »
Aug 15, 2023 | News and Alerts
IRS Commissioner Danny Werfel has just announced a change in a memorandum titled Interim Guidance on Field Collection Safety During Field Contact, which reverses a decades-long practice by IRS revenue officers. Effective immediately, most unannounced visits to... continue reading »
Aug 2, 2023 | News and Alerts
The IRS has issued new guidance providing transitional relief related to recent legislative changes to the age at which taxpayers must begin taking required minimum distributions (RMDs) from retirement accounts. The guidance in IRS Notice 2023-54 also extends relief... continue reading »
Jun 26, 2023 | News and Alerts
While the value of virtual currency continues to fluctuate, the IRS’s interest in it has only increased. In 2021, for example, the agency launched Operation Hidden Treasure to root out taxpayers who don’t report income from cryptocurrency transactions on their federal... continue reading »
Jun 8, 2023 | News and Alerts
President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal Responsibility Act (FRA) suspends — as opposed to raising — the debt ceiling until 2025, after the next... continue reading »
