IRS Audit Red Flags
10 red flags for IRS audits Even though the overall IRS audit rate is currently low historically, it’s expected to increase as a result of provisions in the Inflation Reduction Act...
27 October, 2022
IRS Tag
How to Repay Deferred Social Security Tax
How Self-Employed Individuals and Household Employers Repay Deferred Social Security Tax The Coronavirus Aid, Relief, and Economic Security Act allowed self-employed individuals and household employers to defer the payment of certain...
17 October, 2022
IRS Grants Relief to Victims of Hurricane Ian
(authored by RSM US LLP) The IRS issued a news release on Sept. 29, 2022, announcing that victims of Hurricane Ian now have until Feb. 15, 2023, to file various...
30 September, 2022
COVID Tax Relief: Penalty Relief for 2019 and 2020 Returns
Authored by the IRS | August 24, 2022 COVID tax relief: IRS provides broad-based penalty relief for certain 2019 and 2020 returns due to the pandemic; $1.2 billion in penalties being...
24 August, 2022
IRS Issues Guidance On Transition Rules For EV Credits
(authored by RSM US LLP) 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...
17 August, 2022
Summer Jobs: Tax Considerations for Parents and Their Children
For many teenagers, summer often means a time for family barbecues, swimming in the pool, and working a summer job. For many parents, this means dealing with the tax implications...
12 July, 2022
Dirty Dozen
Authored by the IRS, June 13, 2022 The Dirty Dozen represents the worst of the worst tax scams. Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may...
21 June, 2022
IRS Increases Mileage Rates for the Remainder of 2022
(authored by RSM US LLP) The IRS provides some relief amid rising gas prices with an optional increase to the standard mileage rate for business travel....
10 June, 2022