Taxes

On July 30, 1973, Tax Analysts accused President Richard Nixon of playing fast and loose with the tax laws. In a 16-page study released to the public and submitted directly to the IRS, the fledgling nonprofit questioned the deductions that Nixon had taken for donating his official papers to the National Archives. Nixon had made

The IRS is clearly serious about moving its Strategic Operating Plan forward. The plan, which was released in April, has been described by the agency as an “ambitious effort to transform the tax agency and dramatically improve service to taxpayers and the nation during the next decade.” This week, the IRS announced the appointment of

I have written recently that taxpayers need to beware of “too-good-to-be-true” pitches for the Employee Retention Credit (ERC) and that business owners need to be “eyes open” about whether they qualify for the ERC. The IRS just recently put forward a new announcement outlining warning signs for business owners and tax exempts for ERC scams.

The provisions of the Corporate Transparency Act affect virtually every LLC in the United States. Yet many small- to medium-sized businesses remain unaware of the CTA or its new reporting requirements. The CTA is administered by the Financial Crimes Enforcement Network and it is through FinCEN that businesses will report their beneficial ownership information. Beneficial

Golf season is in full swing in parts of the U.S. — but a U.S. Senator is making golf news this week. Senator Ron Wyden (D-OR), the chair of the Senate’s finance committee, has introduced two bills targeting The PGA Tour and its tax-exempt status. The bills are called the Sports League Tax-Exempt Status Limitation