Business Standard Mileage Rate Increases for 2024
The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business...
IRS Announces Penalty Relief, Resumption of Collection Notices
Feb 12, 2024
The IRS announced Tuesday in Notice 2024-7 that it will provide about $1 billion in penalty relief to almost 5 million taxpayers...
Commercial Clean Vehicle Credit Safe Harbor Announced for 2024
Feb 8, 2024
The IRS on Wednesday provided a safe harbor under the Sec. 45W commercial clean vehicle credit for commercial vehicles placed...
Stock-Based Compensation: Tax Forms and Implications
Feb 1, 2024
Many companies provide stock (i.e., equity) compensation packages to employees. From an employer’s perspective, there are many benefits. First, it...
IRS Offers Process for Withdrawing Bogus ERC Claims
Jan 29, 2024
The Internal Revenue Service is giving employers a way to rescind inaccurate claims for the Employee Retention Credit if they’ve...
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