At the height of the COVID-19 pandemic, the U.S. government rolled out a number of initiatives to help struggling business owners. One of these was the Employee Retention Tax Credit…
State Tax Implications of Using Third-Party Fulfillment Services
Running a business is hard. Even before the current challenges of inflation and staffing shortages, management had a lot on its plate: procurement, production, research and development, marketing, payroll, accounting,…
Tax Alert: Penalty Relief for Delinquent International Information Returns Filed by September 30
As part of annual tax return compliance, the IRS requires additional information returns to be completed related to investments and intercompany transactions with foreign subsidiaries and trusts. These returns often…
The Superfund Chemicals Excise Tax Makes a Comeback
Nearly three decades after expiring, the Superfund chemical excise tax is back. This excise tax, which is imposed on certain chemicals and imported chemical substances, was reinstated effective July 1,…
How the Inflation Reduction Act Affects Corporate and Individual Taxes
President Biden signed the Inflation Reduction Act into law on August 16, 2022. The bill contains provisions intended to fight climate change, reduce health care costs and lower the federal…
