U.S. Supreme Court rules against the IRS on critical FBAR issue
The U.S. Supreme Court recently weighed in on an issue regarding a provision of the Bank Secrecy Act (BSA) that has split two federal courts of ...
What Business Owners Can Do About Insurance Fraud
According to various sources, around 10% of all insurance claims involve fraud. Insurance companies generally pass along the cost of these fraud ...
Many Tax Limits Affecting Businesses Have Increased For 2023
An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. ...
K-2 & K-3 for International Activity Related to 1065, 1120-S, 8865
IRS Schedules K-2 and K-3, new for 2021, may need to be completed to include items of international tax relevance from the operations of a ...
Year-end Spending Package Tackles Retirement, Conservation Easements
On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023. The sprawling year-end spending "omnibus" package includes two ...
The Standard Business Mileage Rate is Going Up in 2023
Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost of ...
Estate and Gift Tax Exemption Increased for 2023
In 2022, inflation took its toll on the American economy, generally, and the stock market, in particular. However, the increased cost of living has ...
Forms W-2 and 1099-NEC Are Due to be Filed Soon
With the 2023 filing season deadline drawing near, be aware that the deadline for businesses to file information returns for hired workers is even ...
e-TIDES is Being Shut Down on February 24, 2023
Business taxpayers are strongly encouraged to act now and sign up for an account on myPATH. This is the new and improved online system where the ...