Taxpayers continue to leave New York and claim residence in another state to lower their tax burden. Although a smart financial move, it is not an easy one. Aside from rebuilding a sense of home and starting over in a new state, those who make the move must do so...
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U.S. Tax Law Blog
I received notification of an IRS tax audit. How will this end?
Walking out to check our mailbox is not what it used to be. Back in the day, we might be excited to find a card from a loved one or a letter from a friend. Now, more often than not, our mailboxes are full of political mailings and bills. If we are very unlucky, we...
Does my business qualify for the new process to remit ERC claims?
The Internal Revenue Service (IRS) recently announced a new program that aims to help business owners address incorrect claims for the Employee Retention Credit (ERC). The program focuses specifically on third-party payers. Third-party payers are those who handle...
What happens when a business owner does not remit payroll taxes over to the IRS?
Successful business owners know more than just their trade, they also know how to navigate the details of business ownership. From administrative tasks to those involving human resources issues, knowing how to manage these details can make or break a business. One...
COVID-19 task force cracks down on pandemic related fraud
The pandemic was a difficult time for everyone. Healthcare workers struggled to provide care, retail workers did their best to provide consumers the goods they had come to rely on restaurants shifted to delivery and take-out. Many of these changes were navigated by...
Three important lessons from recent EIDL fraud case
The COVID-19 pandemic was a difficult time for small business owners. In an effort to help entrepreneurs survive these economically difficult times, the government offered various financial incentives. Some were in the form of tax incentives, others loans. One example...
The IRS is taking on millionaires. How is it going?
The Internal Revenue Service (IRS) has argued that decades of underfunding have left it at a disadvantage when going up against the country’s highest earning taxpayers. The IRS argues that wealthy taxpayers show up to meetings with multiple tax attorneys, each...
Changes are coming: 3 tax changes to watch for in 2024
Navigating tax law is a lot like trying to do a very difficult puzzle. Just when taxpayers think they have it figured out, lawmakers change the pieces, adding or adjusting the tax code in ways that can result in serious consequences for those who are not paying...
3 things to know about whistleblowers and tax audits
Businesses that face whistleblower claims can find themselves facing huge financial losses. These claims generally involve a former employee or contractor who discloses information that they believe the government could use to build a case against the business for a...
What should I do if I have not gotten my ERC refund?
The Internal Revenue Service (IRS) has been straightforward that receiving funds from the Employee Retention Credit (ERC) would take time, estimating a standard processing goal of 180 days and longer if a claim required additional review. Unfortunately, for many...