Insights
Not everything in the accounting and financial world is black and white. Much is left to interpretation coupled with experience. At KHA, we know our clients value our perspective and guidance. We therefore not only see it as our duty to share regulatory updates, but also our commitment to share our insights on matters that impact you, our clients.
Topic
The Eleventh Circuit overrules the Tax Court and holds supervisory approval any time before assessment satisfies section 6751(b).
Section 7803(e) provides taxpayers a general right to the IRS Independent Office of Appeals. IRS proposed regulations contain a list of 24 types of cases to be excluded from Appeals.
The top four findings from a talent gap research survey commissioned by RSM and solutions for overcoming the talent gap challenges companies are facing.
The FASB is looking for views on changes to accounting for investments in tax credit structures.
Congress passed multiple pieces of legislation aimed at providing relief to employers struggling due to the pandemic. A new Treasury Inspector General for Tax Administration (TIGTA) report finds that ongoing IRS processing delays are causing businesses to wait on COVID-related credits claimed on Forms 941-X. The report states that as of Feb. 1, 2022, there were 447,435 Forms 941-X waiting to be processed.
SAFEs are a newer means of raising capital. Companies and their investors should consider the effects of a SAFE’s tax treatment.
A guide to lessee accounting under ASC 842 has been updated to incorporate guidance from the ASUs issued by the FASB.
IRS will automatically waive or abate failure to file penalties for some returns when filed by Sept. 30, 2022. IRS will also waive or not apply penalties for 2019 and 2020 information returns.
Tax changes in the Inflation Reduction Act could affect middle market businesses despite targeting large corporations and high-income individuals.
IRS guidance helps taxpayers navigate the transition from existing rules for claiming EV credits to new rules enacted by the IRA including ways to verify an EV vehicle will qualify going forward.
The Inflation Reduction Act of 2022 includes significantly expanded renewable fuel credits that support goals of carbon emission reductions.
Beginning August 2022, Form 990-N users without an active IRS username must create an account with ID.me to authenticate their login information and access the Form 990-N Electronic Filing system.
You have mapped out your estate plan and feel confident in its estate tax efficiency. However, it is important to consider the income tax ramifications of each decision throughout the planning process to avoid unintended consequences.
While most companies expense the cost of research and development activities, most fail to take advantage of the R&D tax credit. Learn how the tax credit works and what expenses qualify for it.
Estate succession planning guide for multigenerational wealth and prioritizing grantor intent