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Corporate Transparency Act
Read more: Corporate Transparency ActWhat is the Corporate Transparency Act (“CTA”)? Starting January 1, 2024 each reporting company shall submit to FinCEN a report that identifies each beneficial owner of the applicable reporting company and each applicant with respect to that company. Existing companies have until January 1, 2025 to file its initial beneficial ownership information (“BOI”) report or […]
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Alabama Updates Procedure for Nexus Questionnaire and Voluntary Disclosure Agreement
Read more: Alabama Updates Procedure for Nexus Questionnaire and Voluntary Disclosure AgreementOn September 1, 2023, the Alabama Department of Revenue will transition their Nexus Questionnaire and Voluntary Disclosure Agreement (“VDA”) process to their newly established “My Alabama Taxes” portal. The Nexus Questionnaire serves as a platform for business taxpayers to furnish essential information to aid the Department in determining whether they are subject to tax filing […]
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IRS Releases Frequently Asked Questions about the Employee Retention Credit
Read more: IRS Releases Frequently Asked Questions about the Employee Retention CreditThe Employee Retention Credit (“ERC”), also known as the Employee Retention Tax Credit (“ERTC”), presents a refundable tax credit opportunity tailored for businesses and tax-exempt entities. The criteria for eligibility vary based on the specific timeframe during which the credit is sought. Due to an influx of ERC promoters that uses different tactics to mislead […]
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Texas Increases Franchise Tax Exemption Amount and Reduces Filing Requirement For Some Taxpayers
Read more: Texas Increases Franchise Tax Exemption Amount and Reduces Filing Requirement For Some TaxpayersOn July 22, 2023, S.B. 3 was signed into law and enact the following important changes applicable to Texas franchise tax reports originally due on or after January 1, 2024. The bill will double the amount of a taxable entity’s total revenue that is exempted from the franchise tax from $1.235 million to $2.47 million. […]
Latest Posts
- Hold Your Horses (Taxes)
- New York ALJ Denies Refund Request for Remote Work Performed Before and During COVID-19 Pandemic – Follow Up on Zelinsky
- Business Expenses
- Corporate Transparency Act
- More VDA Updates – Pennsylvania Reduces Lookback Period for Corporate Tax VDA’s
- IRS Proposed Regulations – Reporting Digital Assets Transactions by Brokers
- Ohio – Recent Changes to CAT Exclusion and Annual Minimum Tax
- More Withholding Headaches – New Jersey Implements “Convenience of the Employer” Rule
- Tax Opportunities: 2023 Home Energy Tax Credits for Individuals
- Alabama Updates Procedure for Nexus Questionnaire and Voluntary Disclosure Agreement