The manufacturing industry will face several changes in federal tax law in 2024 thanks to the Tax Cuts and Jobs Act (TCJA) of 2017. New or expanded tax credits are also available to encourage certain...
Every year, the IRS compiles a list of 12 tax scams that could target or affect taxpayers, known as the “Dirty Dozen” list. It advises tax professionals and taxpayers, both individuals and...
The U.S. Department of Treasury released the General Explanations of the Administration’s Fiscal Year 2024 Revenue Proposals, commonly known as the “Greenbook,” on March 9, 2023. This document...
Nonprofit organizations (NPOs) that serve low-income communities often have difficulty raising funds to pursue their missions. The COVID-19 pandemic made fundraising even more difficult. Many NPOs...
Individual taxpayers, especially those in high tax brackets, look to deduct any losses they experienced during a given tax year. Recent economic conditions make this particularly relevant for 2022....
When Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March 2020, it established numerous programs that provided incentives for employers to keep employees on their...
Congress passed the original Setting Every Community Up for Retirement Enhancement (SECURE) Act in 2019. The House of Representatives passed a bill that builds on that law’s improvements, the...
A new year is right around the corner, and now is the time for taxpayers to look at their 2022 tax position. Each tax year is different, and there are some key considerations for 2022 taxes.
The Inflation Reduction Act (IRA) was signed into law on August 16, 2022. The provisions included in this law address a wide range of financial efforts targeted at reducing the deficit while...
Regulatory and tax compliance can be a real burden for dealerships, having to handle multiple monthly filings throughout the year. While taxpayers cannot avoid such compliance responsibilities, the...