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Topic: Tax

ERC Tax Credit Eligibility: IRS Guidance for Supply Chain Disruptions
By Nick Zoyhofski, CPA on August 22, 2023

The COVID-19 pandemic has disrupted businesses worldwide, leading to economic challenges and uncertainty. To support employers, the government introduced the Employee Retention Credit (ERC)

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Employee Retention Credits FAQs for 2023: Understanding the Credit & How to Avoid Scams
By Nick Zoyhofski, CPA on August 8, 2023

As businesses navigate the complexities of the Employee Retention Credit (ERC), it's essential to have a clear understanding of the eligibility criteria, claiming process, and potential...

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IRS Provides Clarity on Energy Tax Credits in the Inflation Reduction Act
By Don Warrant, CPA on January 13, 2023

Guidance issued on energy-efficient home improvements and residential clean energy property credits Thinking about making energy-efficient home improvements? Then, now’s the time to do it....

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Tax Deadlines Every Business Owner Should Know
By Adam Poole, CPA on January 11, 2023

Stay compliant with important 2023 business tax deadlines Tax preparation and planning are necessary in today’s complex business environment. Remembering tax deadlines is an area that none...

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To Coin an Oprah Phrase…“You get ERTC and You Get ERTC and Everybody Gets ERTC!”
By Jenny Bean, CPA on December 7, 2022

Not so Fast…. Fraudulent ERTC Claims are in the IRS’ Crosshairs The Employee Retention Tax Credit (ERTC) has provided Federal Tax Credits to employers for periods during COVID-19 where...

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New York State Tax Update: IRS Provides Tax Relief for Recent Western New York Snowstorm
By Freed Maxick Tax Team on December 6, 2022

On December 2, 2022, the IRS issued NY-2022-08, which provides relief for victims of a severe winter storm that began on 11/18/2022. This relief provides an extension of time to file...

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