by DunlapSLK | Dec 14, 2023 | Resources For Employers
On the tax front, 2023 (as of now) has not seen any major legislation. This means fewer tax changes in 2023 than in years past. As always, there is a potential for that to change before the end of the year. As another year ends with interest rates and markets in flux,...
by DunlapSLK | Oct 5, 2023 | COVID-19 Industry & Company Update, Resources For Employers, Uncategorized
In the face of a flood of illegitimate claims for the Employee Retention Tax Credit (ERC), the IRS has imposed an immediate moratorium through at least the end of 2023 on processing new claims for the credit. The reason the IRS cites for the move is the risk of honest...
by DunlapSLK | Jul 28, 2023 | Resources For Employers, Resources For Individual Taxpayers
President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal Responsibility Act (FRA) suspends — as opposed to raising — the debt ceiling until 2025, after the next...
by DunlapSLK | Apr 7, 2023 | Resources For Employers, Resources For Individual Taxpayers
President Biden has released his proposed budget for the federal government for the 2024 fiscal year. The budget, which aims to cut the deficit by nearly $3 trillion over 10 years, includes numerous provisions that would affect the tax bills of both individuals and...
by DunlapSLK | Apr 6, 2023 | Resources For Employers, Resources For Individual Taxpayers
The U.S. Supreme Court recently weighed in on an issue regarding a provision of the Bank Secrecy Act (BSA) that has split two federal courts of appeal. Its 5-4 ruling in Bittner v. U.S. is welcome news for U.S. residents who “non-willfully” violate the law’s...
by DunlapSLK | Mar 29, 2023 | Resources For Employers, Uncategorized
An array of tax-related limits that affect businesses are indexed annually, and due to high inflation,many have increased more than usual for 2023. Here are some that may be important to you and yourbusiness. Social Security tax The amount of employees’ earnings that...