Our Accounting Articles

How to Fix a Questionable ERC Claim with Voluntary Disclosure

The IRS has just introduced a new opportunity for employers to rectify questionable Employee Retention Credits (ERC) through the Voluntary Disclosure Program. Aimed at providing a discounted repayment option, this initiative presents a valuable chance for businesses to address potential discrepancies in their ERC claims. Let’s explore the key aspects of the IRS’s new initiative.

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What You Need to Know About the Corporate Transparency Act

In a move to enhance corporate transparency and mitigate financial crimes, the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, has implemented the Corporate Transparency Act, effective January 1, 2024. Understanding the implications of this new filing requirement is crucial to business owners and executives.

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Maximize Your Home Sale: A Comprehensive Guide to Capital Gains Taxes

Are you thinking of selling your primary residence? Before you take that leap, it’s essential to understand the ins and outs of potential capital gains tax to avoid any unwelcome surprises come tax season. Let’s delve into the basics and exceptions to ensure you’re well-informed about what’s ahead. You don’t want to incur a larger-than-necessary tax bill.

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