Electric car sales broke records in 2021 and have remained consistent in 2022. Sales of electric cars, including fully electric and plug-in hybrids, doubled in 2021 to a new record of 6.6 million sales. Taxpayers who purchase qualifying electric cars…
Fail to Remit Payroll Tax? Criminal Liabilities May Attach Normally, whenever an employer fails to pay over payroll taxes collected from its employees, the IRS will impose a hefty Trust Fund Recovery Penalty, which may equal the amount of the…
In the middle of October, the IRS updated its procedure for issuing guidance using frequently asked questions (FAQs) on any newly passed tax laws. The IRS released a document providing a general overview clarifying taxpayers’ ability to rely on guidance…
