Tax Compliance & Planning – Blog

IRS Opens ERC Voluntary Disclosure Program

IRS Opens ERC Voluntary Disclosure Program

In the world of real estate, the Section 1031 exchange has been a significant tool for investors who want to grow their real estate portfolio and wealth. In this video, we’ll explain how a 1031 exchange works and important considerations when using one.

The 1031 Exchange Explained

The 1031 Exchange Explained

In the world of real estate, the Section 1031 exchange has been a significant tool for investors who want to grow their real estate portfolio and wealth. In this video, we’ll explain how a 1031 exchange works and important considerations when using one.

IRS Announces ERC Withdrawal Process

IRS Announces ERC Withdrawal Process

The Internal Revenue Service (IRS) has established guidelines concerning the withdrawal of an Employee Retention Credit (ERC) claim for those employers who now believe they may not qualify. These guidelines, detailed on the IRS’s official website, outline the necessary steps a taxpayer must take to withdraw a claim for the ERC, under certain conditions.

Why the Cost of Customer Acquisition Is So Important

Why the Cost of Customer Acquisition Is So Important

For any business, understanding and effectively managing the cost of customer acquisition is crucial for success. In this video, we’ll explain what it is, how it’s calculated, and how it affects a business’s profitability, cash flow, and overall growth.

IRS provides guidance for RMDs under SECURE 2.0 Act

IRS provides guidance for RMDs under SECURE 2.0 Act

A recent IRS Notice provides essential guidance on required minimum distributions (RMDs) under SECURE 2.0. This article reviews that Notice and provides insights into the updated rules and deadlines for RMDs, helping taxpayers navigate the ever-changing landscape of retirement planning and compliance with IRS regulations.

IRS clarifies employee retention credit guidance

IRS clarifies employee retention credit guidance

The IRS has released additional guidance on ERC claims basing credit eligibility on supply chain disruptions. In a Generic Legal Advice Memorandum (GLAM) and IRS Notice, the IRS explores various scenarios and clarifies the requirements for employers to substantiate their claims.

Rev. Proc. 2023-24 Unveiled: Key method change updates

Rev. Proc. 2023-24 Unveiled: Key method change updates

The Internal Revenue Service (IRS) has released its yearly update to the revenue procedure controlling the implementation of accounting method changes, which may impact many taxpayers. The updated Rev. Proc. 2023-24, includes changes related to depreciation and R&D expenses, among other items.

IRS and Treasury release guidance for monetizing energy credits

IRS and Treasury release guidance for monetizing energy credits

The IRS and Treasury Department have recently released guidance on the monetizing energy credits for businesses. This guidance provides clarity on the process of claiming and monetizing these credits, which can provide significant financial benefits for companies that invest in renewable energy sources.