IRS to Stop Processing Employee Retention Tax Credit Claims
The IRS issued a notice last Thursday ordering an immediate stop to processing all new claims for the Employee Retention Tax Credit (ERTC). This comes amid a surge of questionable claims and concerns about aggressive marketing to ineligible taxpayers. Here are the highlights that you should be aware of: Immediate moratorium through at least the […]
Updates on Deadline Extensions for Californians Impacted by Winter Storms
The IRS and FTB have recently granted additional tax relief to eligible Californians due to the winter storms. As provided in our January announcement, federal and state tax relief measures were enacted to give Californians until May 15, 2023 to file individual and business tax returns and make required payments. The deadline has now been […]
2023 Inflation Adjustments for Estate and Gift Tax
The IRS recently announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions as detailed in Revenue Procedure 2022-38. Included in the list of tax changes are increases for estate and gift tax exemptions, providing additional tax planning opportunities for the new year. Unified Credit Against Estate & Gift Tax For […]
2023 Paychex Tax Bulletin
This tax bulletin provides you with tax information for 2023 and reminders about Forms W-4, W-5, and I-9. We have included a separate bulletin with information for your employees. Please post the employee bulletin in an area where your employees can easily see it. Download
California Passes Expansion of Passthrough Entity Tax And Other Economic Relief
On February 7, 2022, the California Legislature passed Senate Bill 113 (“SB 113”) proposing an expansion to the California Passthrough Entity Elective Tax (“CA PTET”) as previously enacted under Assembly Bill 150 (“AB 150”), as well as additional relief unrelated to the CA PTET. The bill has been signed by Governor Gavin Newsom. SB 113 […]
Real Estate Market Changes for 2022
Changes Are Underway The pandemic ignited a home-buying frenzy as the decade-long housing shortage converged with historically-low mortgage rates, shifting workplace dynamics and new opportunities for young buyers to pursue their first homes. As enter the start of 2022, here’s a look at the expectations of real estate experts for new year. While the pandemic […]
Advanced Wealth Transfer Planning
Keep Your Money In The Right Hands A well-crafted wealth transfer and estate plan can help you implement your vision for the future and create benefits for the people and causes that matter most to you. There are three places your assets can end up after your death: taxes, charity, or to loved ones as […]
New Requirements for R&D Credits
The IRS recently shared it receives thousands of R&D claims for credits in the hundreds of millions of dollars from corporations, businesses, and individual taxpayers. Claims for the research credit under Section 41 of the Tax Code are examined in a substantial number of cases and take up significant time and resources for both the […]
