Sales tax compliance can be a monumental task for a business with activities in multiple states, each with their own tax rates and sales tax reporting thresholds. However, navigating through these complexities and maintaining compliance is possible with the right tools. States are increasingly looking for new ways to fill their tax gaps by establishing […]
Posted on March 13, 2024 by
Luke Lucas
Professional athletes and entertainers, like most taxpayers, must learn to navigate the often-treacherous federal tax code and a broad range of differing tax laws at the state and local level that can increase their tax liabilities and eat into their hard-played earnings. For athletes and entertainers who travel across the country for games and performances, […]
Posted on February 22, 2024 by
Angie Adames
The IRS announced it is resuming mailing automated collections and reminder notices to taxpayers with outstanding tax liabilities from 2021 and earlier, a practice it suspended in 2022. In certain circumstances, the agency will waive failure-to-pay penalties that accrued in tax years 2020 and 2021 during the height of the COVID pandemic. It is estimated […]
Significant time has lapsed since Congress introduced new rules for partnership audits under the Bipartisan Budget Act of 2015 (BBA). However, with the benefit of an unprecedented additional $80 billion in funding, the IRS plans to ramp up its enforcement efforts in the years ahead. This will put a growing number of partnerships of all […]
You have a broad range of opportunities to save money during your working years so that you may afford a comfortable retirement in the future. Yet, with each type of retirement savings plan comes a unique set of rules and requirements, including procedures for paying taxes on your plan contributions and earnings. In the most […]
