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IRS announces details for ERC Voluntary Disclosure program

IRS provides VD Program for employers to return ERC refunds and avoid penalties and interest. Employers must apply by March 22, 2024.

IRS announces ERC Withdrawal Program

IRS announces simplified method for employers who have not yet received ERC refunds to withdraw claims that they now believe are ineligible.

IRS makes statements on CARES Act Employee Retention Tax Credit risks

On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.

IRS grants failure to file penalty relief for 2019 and 2020 returns

IRS will automatically waive or abate failure to file penalties for some returns when filed by Sept. 30, 2022. IRS will also waive or not apply penalties for 2019 and 2020 information returns.

IRS updates login process for Form 990-N filers

Beginning August 2022, Form 990-N users without an active IRS username must create an account with ID.me to authenticate their login information and access the Form 990-N Electronic Filing system.

Fed announces largest rate hike in nearly three decades as it seeks to restore price stability

The Federal Reserve lifted its federal funds policy rate to a range between 1.5% and 1.75% on Wednesday as it moves to restore price stability over the medium term.

Ransomware: Protecting your business against evolving risks

Ransomware attacks are increasing and threatening organizations of all sizes. The RSM cybersecurity report reveals new ransomware data.

House passes infrastructure legislation; sends bill to President Biden

Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week.

What’s going on with energy prices?

As economies continue to emerge from COVID-19-induced lockdowns, demand has rebounded more than expected, helping fuel the recent rally.

The return to office slows in the technology sector

Like many businesses across the economy, technology companies continue to reassess the timing and scale of their return-to-office plans.

House Ways and Means releases reconciliation tax payfors

House Ways and Means issues its discussion draft amendment with revenue items to offset $3.5 trillion spending package.

Senator Wyden’s draft proposals target partnership tax rules

Senator Wyden’s recent ‘discussion draft’ legislation, if enacted, would drastically alter many of the tax rules that apply to partnerships.