IRS Initiatives 2022

Posted on by Moskowitz LLP Posted in Tax: Audits, Litigation & Collection
Pass-Through Entity Initiatives S-Corporation Distributions S-Corporation Losses Claimed in Excess of Basis Campaign S-Corporations Built-in Gains Tax Sale of Partnership Interest Syndicated Conservation Easement Transactions Tax Cuts and Jobs Act (TCJA) Campaign U.S. Territories Self Employment Tax Virtual Currency High Income Non-filer International Taxation Expatriation of Individuals (International Tax) Forms...
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Got Employees? See if you qualify for The Employee Retention Tax Credit

Posted on by Moskowitz LLP Posted in Distressed Business/COVID-19
What is the Employee Retention Credit? The Employee Retention Tax Credit has been one of the most important pandemic relief programs introduced to help employers negatively impacted by government pandemic orders. Furthermore, the changes to ERC eligibility requirements have opened the program to a wide range of businesses that were...
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Recovery Startup Businesses: Claiming the Employee Retention Tax Credit

Posted on by Moskowitz LLP Posted in Distressed Business/COVID-19
The COVID-19 pandemic has affected the way we work, shop, learn, and live. For business, the pandemic has created a range of challenges—from compliance with safety mandates to logistics challenges—to staying profitable. What may be surprising is that during the pandemic, a remarkably large number of new startup businesses were...
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The Aftermath of IRS Offshore Voluntary Disclosure Program- Foreign Bank Accounts

Posted on by Moskowitz LLP Posted in International Taxation
You made an Offshore Voluntary Disclosure, now what? In July 2019, the Internal Revenue Service (“IRS”) Large Business and International Division announced the next steps after taxpayers made a voluntary disclosure regarding unreported bank accounts or foreign assets. When taxpayers make a voluntary disclosure, each taxpayer essentially promises to stay...
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