Business Tax Archives - BST & Co. LLP

What to do if you filed an employee retention credit claim with the IRS

By RSM US LLP September 19, 2023

ERC submissions are under scrutiny by the IRS due to a surge in questionable claims. Are you confident your claim meets the eligibility requirements and can stand up to a potential audit?

IRS halts employee retention credit processing

By RSM US LLP September 15, 2023

The IRS has temporarily halted processing of employee retention credit claims and will provide additional guidance for businesses.

Pass-through entity elections are here to stay: What you need to know

By RSM US LLP June 16, 2023

Pass-through entity elections are creating tax planning complexity. This article explains what you need to know and what you should do next.

What does SECURE 2.0 mean for small employers?

By RSM US LLP March 20, 2023

SECURE 2.0 changes retirement plan rules for small employers with 100 or fewer employees.

Retirement plan changes for long-term, part-time employees

By RSM US LLP February 20, 2023

SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans.

Cautionary tale: Owner personally liable for sales tax

By RSM US LLP January 30, 2023

A New York administrative law judge found an owner to be a responsible person and personally liable for unpaid sales and use taxes.

Tax year 2022 brings more changes to international tax reporting

By RSM US LLP January 12, 2023

Understand how the IRS is changing tax compliance for taxpayers with international activity for 2022.

IRS releases fact sheet regarding residential energy credits

By RSM US LLP January 10, 2023

A recent IRS fact sheet explains tax credits for energy efficient home improvements residential energy property.

Key takeaways for employers under the SECURE 2.0 Act of 2022

By RSM US LLP January 6, 2023

SECURE 2.0 Act significantly changes the tax rules governing qualified retirement plans and individual retirement accounts (IRAs).

With no year-end tax package, businesses face unfavorable changes

By RSM US LLP December 22, 2022

Businesses must contend with several unfavorable tax changes after no significant business tax provisions appeared in a year-end omnibus package.

Year-end tax planning considerations

By RSM US LLP November 4, 2022

Tax planning considerations for businesses and individuals approaching the end of 2022.

IRS makes statements on CARES Act Employee Retention Tax Credit risks

By RSM US LLP October 31, 2022

On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.

Exempt organization inflation adjusted items for 2023

By RSM US LLP October 19, 2022

Rev. Proc. 2022-38 provides the annual inflation adjustments for more than 60 tax provisions, including those affecting exempt organizations.

Inflation Reduction Act: What $80 billion in IRS funding means for taxpayers

By RSM US LLP August 11, 2022

The Inflation Reduction Act of 2022 provides significant funding for the IRS over the next 10 years. The IRS is expected to use over half the funds for enforcement. Taxpayers can also expect to see an increase in taxpayer services.