TAX PRO PLUS LA

Great News for Employers Who Received Questionable Employee Retention Credits

The IRS has introduced a New Voluntary Disclosure Program that allows employers who received questionable Employee Retention Credits (ERC) to pay them back at a discounted rate. This is a different program from the one IRS created earlier for those who haven’t received payment from the IRS and want to withdraw their ERC claim, which is discussed later in this article.

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Rolling the Dice: Unraveling Proposed Sports Betting Tax Cuts & Legislation

A surprising new Ohio Senate bill could profoundly impact sports betting taxes around the nation. Learn more.

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What You Need to Know About Third-Party Tax Authorizations

In the complex world of financial and legal matters, there are times when you may need to authorize a third party to represent you when dealing with the IRS. A third-party representation can be a valuable tool. But how do you navigate the different types of authorizations?

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QuickBooks Tips For a Fresh Start In 2024

As the bustle of December fades, get a head start on your 2024 finances with these helpful QuickBooks tips for small business owners. Learn more.

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Clean Vehicle Credit Can Be Transferred to Dealer to Offset Purchase Price

Beginning in 2024, a special election allows a taxpayer purchasing a new clean vehicle or previously owned clean vehicle, to transfer the entirety of the allowable credit to an eligible (registered) dealer. The dealer in turn applies the credit to the purchase of the vehicle. In short, the tax credit can be applied to reduce the cost of the purchase by the amount of the credit. This also make it easier for taxpayers to meet down payment requirements and avoids waiting for the credit until their tax return for the year of purchase is filed.

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