On Jan. 1, new rules targeting the origin of electric vehicle battery materials from countries considered hostile to the U.S. went into effect and limited the number of EVs eligible to receive U.S. tax credits.
IRS ERC Voluntary Disclosure Program requires 80 percent payback
Zinner & Co. Tax Team penalties , Business - Management, Issues & Concerns , IRS , Zinner & Co. , ERC , Employee Retention CreditIn late December, the Internal Revenue Service launched a new Voluntary Disclosure Program to help businesses who want to pay back the money they received after filing Employee Retention Credit (ERC) claims in error.
Individuals who have set up 529 plans need to be aware of recent changes to the plans.
IRS increases 2024 contribution limits for 401(k) and IRAs
Zinner & Co. Tax Team Taxes - Planning, Rules and Returns , Taxes - Individual , Retirement Planning & IRAs , IRS , 401kOn Wednesday, the Internal Revenue Service announced it will increase the amount individuals can contribute to their 401(k) plans in 2024.
IRS places a moratorium on Employee Retention Credit claims
Zinner & Co. Tax Team IRS , ERC , Employee Retention CreditDOJ to pursue fraud from aggressive marketing while IRS will add safeguards to prevent future abuse and protect businesses from predatory tactics
On Sept. 14, the Internal Revenue Service announced an immediate moratorium through at least the end of the year on processing new Employee Retention Credit claims, following reports of a flood of improper claims for the pandemic-era relief program.
Ohio’s annual sales tax holiday is right around the corner.
Hurricane Ian Casualty Loss
Zinner & Co. Tax Team Taxes - Corporate & Business , Taxes - Planning, Rules and Returns , Taxes - IndividualMany of our clients who live in the Southwest Florida region, as well as North and South Carolina, were affected by Hurricane Ian.
On Oct. 5, 2022, the IRS published IR-2022-173, which allows hurricane victims in those states an extension of time to file their 2021 income tax returns until Feb. 15, 2023. This meant that if a valid extension was granted for your individual tax return through until Oct. 17, 2022, you had until Feb. 15. The affected states have followed the same stance as well.
Sale of Home and Capital Gains Tax
Zinner & Co. Real Estate Team real estate , Taxes - Planning, Rules and Returns , tax , taxes , tax avoidanceAre you thinking about selling your home but worried about the additional tax it could generate?
It is possible that you could be one of the many who can sell your home while avoiding the capital gains tax.
Choosing the right PC can be a difficult decision, especially for those who are not tech-savvy.
In today's world, technology has become an integral part of our lives.
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