White House Releases Fiscal Year 2024 Budget Including Tax Revenue Proposals
Administration releases Fiscal Year 2024 Budget and Greenbook explanation of tax proposals. Expectations are light for proposals to move forward in Congress.
FASB Votes to Simplify Accounting for Common Control Leases
For common control leases, the FASB is drafting amendments to simplify determining whether a lease exists, the classification of the lease, and accounting for leasehold improvements.
Retirement Plan Changes for Long-Term, Part-Time Employees
SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans.
Maryland Digital Advertising Tax: Where Are We Now?
Maryland digital advertising tax to have its day in court with oral arguments scheduled with the state supreme court this spring.
IRS Makes Statements on CARES Act Employee Retention Tax Credit Risks
Last year, the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.
IRS Releases Draft Instructions to Claim Amended R&D Credits
IRS issues draft instructions for Form 6765 that formalizes the information required for claiming research credits on an amended tax return or an administrative adjustment request (AAR) for BBA partnerships.
IRS Releases Fact Sheet Regarding Residential Energy Credits
A recent IRS fact sheet details requirements for the energy efficient home improvement credit and the residential clean energy property credit.
Key Takeaways for Employers under the SECURE 2.0 Act of 2022
SECURE 2.0 Act significantly changes the tax rules governing qualified retirement plans and individual retirement accounts (IRAs).
Five Signs Your Nonprofit Needs to Update Its Business Processes
Modernizing business processes has never been more crucial for mission-driven organizations. Key indicators let nonprofits know it may be time to upgrade their technology.
With No Year-end Tax Package, Businesses Face Unfavorable Changes
Businesses must contend with several unfavorable tax changes after no significant business tax provisions appeared in a year-end omnibus package.