October 2, 2024 06:29 PM
IRS Makes Progress On Retention Credit Fraud, TIGTA SaysExpert Analysis
Employers that filed potentially erroneous employee retention credit claims should take certain steps to determine whether the IRS’ voluntary disclosure program is a good fit and, if so, prepare a strong application before the window closes on March 22, say attorneys at Dentons.
The subjective nature of the pandemic-prompted employee retention credit, coupled with a lack of Internal Revenue Service guidance, have created fertile ground for opportunists, so businesses seeking this tax benefit should be mindful of tax advisers who would involve them in fraudulent ERC claims, say attorneys at Holland & Knight.
Congress should restore the home office deduction for W-2 workers in the interest of tax equity because permanently remote workers now bear the cost of creating quiet, dedicated work spaces, a pandemic-related shift unforeseen when the deduction was eliminated by 2017's Tax Cuts and Jobs Act, say James Mahon and Samantha Lesser at Becker.
September 24, 2024 05:00 PM
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Cabinet Cos. Say They're Owed $1.35M In Retention CreditsAugust 1, 2024 03:27 PM
Mass. Panel Upholds Tax On NH Resident During PandemicJuly 31, 2024 03:26 PM
Judge Won't Undo IRS' Pause On Worker Retention CreditsJuly 29, 2024 02:51 PM
Co.'s $1.7M Penalty Bill Was Due To IRS Errors, Court ToldJuly 26, 2024 11:33 AM
Weekly Internal Revenue BulletinJuly 9, 2024 03:00 PM
Medical Office Manager Gets 5 Years For Tax, Mail FraudJuly 2, 2024 03:12 PM
Saudi Arabia Extends COVID-19 Tax Penalty Exemptions