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Topic: Tax

IRS Audit Risk Alert: The IRS is Aggressively Pursuing Employee Retention Credit Claims in a New Way to Determine Validity: Understanding Your Letter 6612

New Update: Understanding Your Letter 6612. The IRS escalated its verification efforts for Employee Retention Credit (ERC) claims. Businesses that submitted ERC claims are now under even...

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IRS Audit Risk Alert: IRS to Target ERC Promoters and their Clients

Newly proposed federal legislation will require ERC Promoters to disclose their clients to the IRS. This move increases audit scrutiny for all businesses, particularly those who sought...

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Research and Experimentation Tax Credit: IRS Proposed Changes to Form 6765
By Freed Maxick Tax Team on October 10, 2023

Are you a taxpayer looking to claim a research and experimentation (R&E) credit? If so, you'll want to pay close attention to the recent developments from the IRS. On September 15, the IRS...

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ERC Tax Credit Eligibility: IRS Guidance for Supply Chain Disruptions
By Freed Maxick Tax Team 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 Freed Maxick Tax Team 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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