No Tax on Tips and Overtime?
The One, Big, Beautiful Bill had a significant effect on federal taxes, credits and deductions. Millions of taxpayers reported earning tips and overtime on... Read More
What is an IRS Employee Retention Credit (“ERC”) Audit?
The Employee Retention Credit (ERC), also sometimes called the Employee Retention Tax Credit or ERTC, is a refundable tax credit for certain... Read More
OBBBA and Charitable Donation Deductions
The One Big Beautiful Bill Act (“OBBBA”) provided three new rules with respect to reporting and claiming itemized deductions resulting from charitable... Read More
The Sixth Circuit Held that Tax Court Filing Deadline is Not Jurisdictional
The Sixth Circuit reversed the Tax Court’s dismissal of a petition that was filed more than 90 days after the IRS mailed the notice... Read More
IRS Publishes FAQ for Employee Retention Credit Compliance
The IRS has provided taxpayers with a fact sheet (FS-2025-7) that answers frequently asked questions (FAQs) on the limitation on credits and... Read More
What Are The Basic Rules for Innocent Spouse Equitable Relief
When you file a joint income tax return, the law makes both you and your spouse responsible for the entire tax liability,... Read More
Pass Through Entity Elective Tax Payment
California has passed legislation to allow owners of pass though entities such as partnerships and S-Corporations to bypass the state and local... Read More
State and Local Tax Deduction Limit
In Revenue Ruling 2019-11, posted on IRS.gov, the IRS provided four examples illustrating how the long-standing tax benefit rule interacts with the new... Read More
The Charitable Contribution Deduction
Section 170(a) provides, subject to certain limitations, a deduction for any charitable contribution, as defined in § 170(c), payment of which is... Read More
IRS Audit Statute of Limitations
The Internal Revenue Service (IRS) makes every effort to examine tax returns as soon as possible after they are filed. Moreover, an... Read More