The IRS issued Announcement 2024-3 on December 21, 2023 to roll out the Voluntary Disclosure Program. The program is a process to pay back the ERC credit for recipients who believe they received it in error.
Effective from January 1, 2024, new and existing business entities (with exceptions) must comply with
the CTA
Analyzing overhead is a critical process that businesses undertake to optimize cost efficiency and ensure effective resource allocation. Overhead costs consist of a wide range of non-direct expenses incurred during the production or operation of goods and services.
The IRS has released notice that they will be suspending the processing of new claims for the Employee Retention Credit (ERC) for the remainder of 2023.
In normal times, getting an accurate valuation of a business or other asset can be challenging. There are multiple inputs that must be considered and a value derived based on various assumptions.
How did tax season go? Summer is an excellent time to enact a new tax planning strategy.