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The Credit for Increasing Research Activities under Internal Revenue Code Section 41 is a Federal tax credit that, in most…

The IRS recently updated its guidance regarding the Employee Retention Credit’s (ERC) effect on taxable income. The IRS has consistently…

On the afternoon of Friday, March 21st, the following announcement was posted on the FinCEN website. Click here to read…

Bill McDevittMarch 24, 2025

In the past, we have written about the basics of chargebacks (Deduction Rules for Accrued Liabilities: Chargebacks Edition), a significant…

The U.S. Treasury Department said Sunday it won’t enforce penalties or fines against U.S. citizens or domestic reporting companies or…

Hot off the press: FinCEN states that 3/21/25 is not the real deadline! FinCEN is not issuing fines or penalties…

Bill McDevittFebruary 28, 2025

On February 18, 2025, there was a decision by the U.S. District Court in Texas in Smith et al. v. U.S.…

Bill McDevittFebruary 19, 2025

On Monday, February 10, 2025, the House approved legislation by a unanimous 408-0 vote that would grant small businesses formed before…

Bill McDevittFebruary 12, 2025

The IRS has recently released a new draft of Form 6765, "Credit for Increasing Research Activities," aimed at expanding the…

Tim TorresFebruary 10, 2025

As a reminder, for applicable transfers, copies of Form 8308, “Report of a Sale or Exchange of Certain Partnership Interests,”…

Jenna McDonoughJanuary 16, 2025

Business Tax