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Tag Archives: tax

IRS Extends Time to Fix Up R&D Tax Credit Claims

For companies and tax professionals alike, the IRS is granting a one-year extension to fix up their claims for the research and development tax credit. On Friday, the agency announced an extra year extension through Jan. 10, 2024, the transition … Continue reading

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3 Things To Consider Doing Before The Tax Extension Filing Deadline

It is almost that time again! In a little under a month, almost 19 million Americans who asked for extensions on their 2021 tax returns will need to file. There are a few crucial actions these taxpayers need to take … Continue reading

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Victims Of Hurricane Fiona Qualify For Tax Relief Throughout Puerto Rico

Earlier this week, a category 4 hurricane charged up the Caribbean coast devasting all 78 of Puerto Rico’s Municipalities and leaving the entire island without power. The IRS is offering relief which includes the suspension of various federal individual and … Continue reading

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NYC Pass-Through Entity Tax Retroactive to January 1st, 2022

After months of talk in Congress, the New York State legislator has decided to make the Pass-Through Entity Tax (PTET) Retroactive to January 1st, 2022. This decision was tied into the nexus bill that was signed a couple … Continue reading

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Window Films to Get New Tax Credit Benefits and an Extension Through 2032

This past August, the Biden Administration announced the Inflation Reduction Act which included a plethora of different things from a focus on climate change and energy, to healthcare costs and prescription drugs. Hidden within the deal as well, however, are … Continue reading

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With the IRS’ New $80 Billion in Funding, Some Say it Should Be Spent on Answering the Phone

If you ever have had to call the IRS for any reason, you know that getting in touch with an employee is next to impossible. Earlier this month President Biden announced the Inflation Reduction Act, which included a plethora … Continue reading

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Some States have Already Announced Whether or Not they Will Tax Student Loan Forgiveness

Recently, President Joe Biden announced his plans to cancel some student loan debts for millions of Americans across the country. Most borrowers making less than $125,000 per year or $250,000 for married couples filing jointly will qualify for $10,000 in … Continue reading

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Offshore Tax Loophole Helps Americans Cheat the IRS, Says the Senate

For years, people across the country have tried countless times to scam, trick, or do something to get around the IRS and their relentless nature of tax collection. Most of the time, those people have gotten caught and slapped … Continue reading

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IRS to Refund 1.6 million People Who Missed Tax Deadlines During the Pandemic

Millions of Americans across the country missed key filing deadlines during the pandemic. However, this did not stop the IRS from dishing out hefty fines to the late filers. Luckily, it seems as though the Internal Revenue Service has realized … Continue reading

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Inflation Reduction Act – DSJ Breakdown

The Inflation Reduction Act was recently signed into law by the Biden Administration. The goal of this act is to build back an economy that is beneficial for all hard-working American families. There are several details incorporated into this bill … Continue reading

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