…disqualification of the plan’s tax-exempt status and/or penalties by the Internal Revenue Service (IRS). What is a retirement plan forfeiture? Defined contribution plans typically include a separate account to accumulate…
…and 2021. The ERC opportunity prompted aggressive marketing tactics from bad actors known as credit mills that lured ineligible taxpayers to claim the credit. In response, the Internal Revenue Service…
…utilized, the state revenue department may have copies of filed employment and unemployment tax returns, as well as sales tax returns. Employees may also be able to provide copies of…
…aggressive marketing tactics from bad actors that lured ineligible taxpayers to claim the credit. In response, the Internal Revenue Service (IRS) rolled out initiatives to assist businesses that have been…
…the American Rescue Plan. Further, Virginia de-conforms to certain provisions of the Internal Revenue Code. These are summarized below. Key Provisions of Virginia Tax Conformity for Businesses and Individuals Certain…
…important. Learn more about worker classification: Worker Classification 101: employee or independent contractor | Internal Revenue Service (irs.gov) Questions on self-employment taxes for your unique business situation? Contact your Keiter…
…revenue. Her industry experience spans the business and professional services sectors including: legal services, advertising and marketing agency, digital printing, transportation and logistics, software-as-a-service, employee staffing, and medical services. Michelle’s…
IRS Adjusts Estate and Gift Tax Exemptions for Inflation The Internal Revenue Service (IRS) recently announced the inflation adjusted Estate and Gift Tax Exemptions for 2023. The lifetime Estate and…
…the current spending across all sectors, including not-for-profit organizations, will likely rise. Because certain not-for-profit organizations, specifically public charities and foundations, are limited by the Internal Revenue Service (IRS) as…
IRS announces dollar limitations on pension plans and other retirement-related items The Internal Revenue Service (IRS) announced cost of living adjustments to contribution limits for individual pension plans and other…
…digital asset reporting which were issued by the U.S. Treasury Department and Internal Revenue Service (IRS) on December 30, 2024. With concerns the reporting requirements would negatively impact taxpayers specifically…
…be aware that the Department of the Treasury and the Internal Revenue Service (IRS) expanded the tax return and business document e-file requirements for the 2024 filing season. While over…