The new lower threshold for required electronic filing of information returns applies to tax year 2023 Forms W-2, Wage and Tax Statement.

In a recent Tax Court case, the IRS attempted — unsuccessfully — to supplant the fair market value agreed to by unrelated parties in a partnership transaction.

Multiple sales tax holidays upcoming.

Why the lease liability under ASC 842 and the right of asset are not the same.

Georgia Governor, Brian Kemp, signed a bill into law on May 2nd, 2023 that will impose new sales tax on digital products that are downloaded and kept for use.

If you make quarterly estimated payments, the deadline to make your second quarter payment for tax year 2023 is Thursday, June 15th.

The Department of Labor (DOL) released the final changes to Form 5500.

Contribution plan limits and other notices for 2023.

Of the many provisions within the SECURE 2.0 Act, there is one that plan sponsors may want to pay particular attention to: the option to allow employees to elect to treat employer contributions as Roth contributions.

It’s important to consider the implications of inflation and rising interest rates, which can affect financial reporting in many ways.

The Tennessee General Assembly recently passed the Tennessee Works Tax Act which provides various tax breaks for businesses in Tennessee.

Depending on if you’re nearing the threshold to take advantage of the itemized deduction, you may want to pay some expenses earlier than planned to add additional deductions to offset your income.

Trusts and 65-day election due by March 6, 2023

A key consideration for your 2022 filing efforts should be to acknowledge that every operating loss for your business or capital loss on investments may not lead to a direct deduction on your 1040 the way that you would think.

Will the good times continue in 2023?

This year the 2022 tax filing deadline is April 18th and it is approaching quickly, but there is still time to take action that might reduce your tax liability.

If you make quarterly estimated payments, you have until January 17th to pay your final estimated tax payment for tax year 2022.

The Biden administration on March 9 unveiled a budget proposal for fiscal 2024 that would reduce the federal deficit by nearly $3 trillion over 10 years, primarily by raising taxes on high-net-worth individuals and large corporations.

The act requires an increased amount of automatic enrollment in employer retirement savings plans, increases catch-up limits, sets the age for RMDs (required minimum distributions) higher, and allows you to make penalty-free withdrawals in case of emergency.

Upcoming due dates for April 18, 2023

Don't forget letters of acknowledgement.

Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit (also referred to as a previously owned clean vehicle credit). Below is information dealers may find beneficial when it comes to this tax credit.

The IRS has granted relief to certain taxpayers in Arkansas