IRS Issues Modernized E-File Testing Guidelines for 2024
The IRS issued an October 2023 version of Publication 5078, Assurance Testing System (ATS) Guidelines for Modernized e-File (MeF) Business Submissions, …
IRS Releases 2023 Affordable Care Act Forms
The IRS released the final versions of the following 2023 Affordable Care Act (ACA) forms: (1) Form 1094-B, Transmittal of Health Coverage …
House Republicans Ask Commissioner Werfel 10 Questions on ERC Processes
The U.S. House of Representatives Committee on Ways and Means has requested that IRS Commissioner Daniel Werfel provide answers to 10 questions …
Minimum Wage Rates for Federal Contractors Increase in 2024
The U.S. Department of Labor’s (DOL) Wage and Hour Division (WHD) has released two Notices regarding the 2024 minimum wage rates for …
IRS Requests Feedback on Proposed Changes to Form 6765
The IRS is seeking feedback from stakeholders on proposed changes to Form 6765, Credit for Increasing Research Activities, also known as the …
Werfel Stops New Employee Retention Credit Processing Amid Surge of Questionable Claims
The IRS has announced an immediate moratorium on processing new Employee Retention Credit (ERC) claims through at least the end …
IRS Reminds Employers of Best Practices for Disaster Preparation
The IRS has released a reminder to taxpayers, ahead of the peak of the hurricane season, to have an emergency preparedness plan …
Federal Court Rules Overtime Exemption Met Despite Over 80% Nonexempt Work Performed
Debbie Tam The U.S. Court of Appeals for the Sixth Circuit recently ruled that a district director of operations qualified for …
FinCEN: Concerning Increase in Federal/State Payroll Tax Evasion
On August 15, 2023, the Financial Crimes Enforcement Network (FinCEN) announced the agency issued a notice to financial institutions regarding a concerning …
Draft Form for Qualified Small Business Payroll Tax Credit Released
The IRS has issued an August 7, 2023 draft version of Form 8974, Qualified Small Business Payroll Tax Credit for Increasing …