The IRS unveils ERTC relief program for employers

The IRS unveils ERTC relief program for employers

Since July 2023, the IRS has taken a series of actions in response to what it has termed a “flood of ineligible claims” for the Employee Retention Tax Credit (ERTC). Most recently, it launched a Voluntary Disclosure Program (VDP). The program presents a valuable,...

Answers to your tax season questions

The IRS announced it will open the 2024 income tax return filing season on January 29. That’s when the tax agency will begin accepting and processing 2023 tax year returns. Here are answers to seven tax season questions we receive at this time of year. 1. What are...
Tax Credits vs. Tax Deductions for Individuals

Tax Credits vs. Tax Deductions for Individuals

When it comes to tax season, you may hear about tax credits and deductions and wonder – what’s the difference? Both can lower your tax bill, but they work differently. Knowing what they are and how they impact your tax situation can benefit you and your...
The standard business mileage rate will be going up slightly in 2024

The standard business mileage rate will be going up slightly in 2024

The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents per mile in 2024. The IRS recently announced that the cents-per-mile rate for the business use of a car, van, pickup or...