The IRS unveils ERTC relief program for employers
Since July 2023, the IRS has taken a series of actions in response to what it has termed a “flood of ineligible claims” for the Employee [...]
There’s a new threshold for electronically filing information returns
Does your business file 10 or more information returns with the IRS? If so, you must now file them electronically. This is a significant rule [...]
IRS delays new reporting rule for online payment processors
For the second consecutive year, the IRS has postponed implementation of a new rule that would have led to an estimated 44 million taxpayers receiving tax forms [...]
The 2024 cost-of-living adjustment numbers have been released: How do they affect your year-end tax planning?
The IRS recently issued its 2024 cost-of-living adjustments for more than 60 tax provisions. With inflation moderating slightly this year over last, many amounts will [...]
Take action now to reduce your 2023 income tax bill
A number of factors are making 2023 a confounding tax planning year for many people. They include turbulent markets, stabilizing but still high interest rates [...]
PODCAST | Impact of AI on Financial Services?
In this Gorfine, Schiller & Gardyn podcast interview, Chuck Faunce, Director of Business Valuation & Litigation Support at GSG, discusses all things AI and financial [...]
IRS offers a withdrawal option to businesses that claimed ERTCs
Recent IRS warnings and announcements regarding the Employee Retention Tax Credit (ERTC) have raised some businesses’ concerns about the validity of their claims for this [...]
IRS suspends processing of ERTC claims
In the face of a flood of illegitimate claims for the Employee Retention Tax Credit (ERTC), the IRS has imposed an immediate moratorium through at [...]
IRS issues guidance on new retirement catch-up contribution rules
In December 2022, President Biden signed the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act. Among other things, the sweeping new law made some significant [...]
The IRS warns businesses about ERTC scams
The airwaves and internet are inundated these days with advertisements claiming that businesses are missing out on the lucrative Employee Retention Tax Credit (ERTC). While [...]
