The IRS urges businesses to review their eligibility for the Employee Retention Credit because there’s limited time for them to voluntarily resolve incorrect claims and avoid future issues, such as penalties and interest. Some honest businesses were misled into filing
Tax professionals: Watch out for “new client” email scam
Tax professionals should watch out for a “new client” scam – an email scheme where cybercriminals pose as potential clients. This scam peaks during the busy tax filing season. How the new client scam worksThe scammer emails a tax professional
Register to monetize clean energy credits with new online IRS tool
Through new elective payment and transfer options, applicable businesses, tax-exempt organizations or entities such as state, local and tribal governments can take advantage of certain tax credits – even if they don’t have taxable income. They can apply these options to