On Aug. 9, 2022, President Biden signed the Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS Act) into law as part of the CHIPS and Science Act of 2022. Among other things, the $52 billion package provides generous tax inc...

The Tax Cuts and Jobs Act (TCJA) significantly boosted the potential value of bonus depreciation for taxpayers — but only for a limited duration. The amount of first-year depreciation available as a so-called bonus will begin to drop from 100% afte...

The Taxpayer Certainty and Disaster Tax Relief Act of 2020 temporarily increased the tax deduction from 50% to 100% for a business’s restaurant food and beverage expenses for 2021 and 2022. The increase was intended to encourage patrons to support ...

Under Internal Revenue Service (IRS) regulations regarding electronic consents and elections, if a signature must be witnessed by a retirement plan representative or notary public, it must be witnessed “in the physical presence” of the representa...

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure ...

The Bipartisan Budget Act (BBA) of 2015 replaced the auditing and tax collection procedures for partnerships under the Tax Equity and Fiscal Responsibility Act of 1982 and the electing large partnership rules and introduced a new centralized partners...

The Internal Revenue Service (IRS) releases a list of its top tax-related scams annually, dubbed the “Dirty Dozen”. The 2022 edition of the list was recently released and warns taxpayers of the most popular scams being circulated over the past ye...

The Internal Revenue Service (IRS) recently announced that it’ll increase the standard mileage rate for qualified business driving for the second half of 2022. The adjustment reflects the soaring cost of gasoline this year. In fact, as of June 13, ...