IRS Flags Phishing and Smishing in 2024 Tax Scams Alert

The IRS warns of phishing and smishing as top threats in its 2024 “Dirty Dozen” tax scams list. These tactics use fraudulent emails or texts posing as the IRS to extract personal and financial data. IRS Commissioner Danny Werfel urges caution, emphasizing the IRS does not initiate contact via email or text for such information.

2024-05-08T13:16:15-04:00May 8, 2024|Categories: Tax: Business, Tax: Individual|Tags: |

IRS Releases Plan to Triple Its Audit Rates on Large Corporations

Audit rates on large corporations to increase threefold, per newly released IRS roadmap for spending Inflation Reduction Act funds.

2024-05-08T14:18:41-04:00May 6, 2024|Categories: Tax: Individual, Tax: Business|Tags: , |

The Journey to 2025 Tax Reform Begins

House Ways & Means Committee Chairman Jason Smith (R-MO) and House Tax Subcommittee Chairman Mike Kelly (R-PA) recently announced the formation of 10 "Committee Tax Teams". Each team will address key tax provisions from the 2017 Tax Cuts and Jobs Act (TCJA) that are set to expire in 2025 and identify legislative solutions.

2024-05-02T16:10:02-04:00April 30, 2024|Categories: Tax: Individual, Tax: International|Tags: , |

Podcast | “Greatest of All Time” Internal Revenue Code Sections

In this podcast, PBMares Partner, Sean O'Connell, summarizes IRS Code Sections that could include financial savings for individuals and businesses.

2024-04-19T11:31:55-04:00April 19, 2024|Categories: Podcast, Tax: Business, Tax: Individual|Tags: |

Podcast | Tax Relief for American Families and Workers

In this podcast, we discuss a new piece of legislation, the Tax Relief for American Families and Workers Act of 2024. We do not know what will be in the final bill or if we will even have one. But what is in the bill that has many excited?

2024-04-18T16:43:11-04:00March 18, 2024|Categories: Podcast, Tax: Business, Tax: Individual|Tags: , |

IRS Launches ERC Voluntary Disclosure Program

The IRS launched the Employee Retention Credit Voluntary Disclosure Program (ERC-VDP), providing an opportunity for employers to correct mistaken Employee Retention Credit (ERC) claims penalty-free, with submissions due by March 22, 2024.

2024-02-29T14:45:00-05:00February 27, 2024|Categories: Tax Alert, Tax: Business, Tax: Individual|Tags: |

Tax Relief for American Families and Workers Act of 2024

On January 31, 2024 the House of Representatives passed the Tax Relief for American Families and Workers Act, providing business tax breaks and expanded child care credits. Learn if you should consider filing an extension for your 2023 individual and business tax return and consult with a professional tax advisor for evaluation.

2024-02-27T12:24:21-05:00February 22, 2024|Categories: Tax Alert, Tax: Business, Tax: Individual|Tags: |

Tax Relief Bill Passes House, Faces Uncertain Fate in Senate

Tax legislation packaging the child tax credit and favorable business tax provisions moves to the Senate with momentum but an uncertain fate.

2024-02-29T14:56:13-05:00February 1, 2024|Categories: Tax: Business, Tax Alert, Tax: Individual|Tags: |

IRS Will Use AI to Help Target Partnerships and High Net Worth Individuals

The IRS announced a sweeping enforcement effort that will engage AI to focus on large partnerships and wealthy individuals.

2024-02-01T14:50:27-05:00January 30, 2024|Categories: Tax: Individual, Tax: Business|Tags: |
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