Virginia Historic Rehabilitation Tax Credit (HRTC): What Real Estate and Construction Companies Need to Know Last month we posted a blog article about Virginia’s Enterprise Zone Real Property Investment Grant…
Business Owners Should Consider Exploring Business Succession Plans Now. Managing Partner Gary Wallace shared business succession planning insights with Law360 where he explains why now is an advantageous time for…
…for a $5,000 per unit tax credit. On a 100-unit project, that’s $500,000 of federal tax credits generated. Assuming the highest tax bracket, that’s equivalent to a federal deduction more…
The Internal Revenue Service (IRS) has created numerous resources for taxpayers to learn about tax-related identity theft and action steps for identity theft victims. With tax season in full swing,…
By Denise M. Holmes, CPA, Tax Partner | Family, Executive & Entrepreneur Advisory Services Team Is the IRS Making Taxpayer Matters Easier to Resolve? Yes—They Are! Beginning in October 2020,…
…to 2021. Hopefully, the final regulations will include relief provisions or correction provisions for those taxpayers who may have missed RMDs in 2021. Planning Point: While taxpayers must (potentially) take…
Many businesses routinely offer meals to employees as an incentive. However, upcoming changes to tax regulations will affect how such meals are treated for deduction purposes and organizations should be…
…on a taxpayer’s ability to use the cash method of accounting. In general, a taxpayer (other than a tax shelter) meets the gross receipts test for any taxable year if…
…4, 2021, the IRS released new schedules K-2 and K-3. The schedules apply to taxpayers, including passthroughs and their partners and shareholders, that have international tax reporting requirements such as…
…Form 941, Employer’s QUARTERLY Federal Tax Return (or Form 944, Employer’s ANNUAL Federal Tax Return) Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return IRS website still has 2024 Form…
…caused by this mailing.” IRS Backlog of Unprocessed Taxpayer Returns The IRS also continues to face a backlog in addressing taxpayer matters which is also very frustrating for taxpayers and…
Kim has over 15 years of tax and accounting experience assisting businesses and individuals with outsourced accounting functions, tax planning, tax consulting and tax compliance. Her client base includes many…