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…
In April 2021, President Biden’s American Families Plan contained a proposal under which banks would report deposits and withdrawals for all business and personal accounts to the IRS except for accounts below a threshold of $600 or a fair market…
Are you an employee or independent contractor? For decades. this is a question that has deeply concerned not only the federal government but state governments throughout the country. For federal tax purposes, the distinction between the two is crucial. The…
