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Massachusetts Taxpayers to Receive Refund
If you pay taxes in Massachusetts, you may receive an unexpected influx of cash in November. The is because the state received $2.941 billion in excess tax revenue, and Chapter […]
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Don’t Fall for New Zelle Scam
Much like Venmo, CashApp and other payment apps, Zelle is an easy way to send money to, and receive money from, friends, colleagues and family members. But when there is […]
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Treasury Secretary Wants to Know How IRS Will Spend New Funding
Department of the Treasury Secretary Janet Yellen has requested a detailed plan from the IRS on how it plans to spend to the $80 billion in additional funds that the […]
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Beware of Evolving Identity Theft Scams
The IRS and the Security Summit partners are warning tax professionals and those that prepare their own taxes to beware of evolving identity theft scams. Often perpetrated through phishing emails and […]
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Tax Implications of the Inflation Reduction Act
On Sunday, August 9, 2022, the Senate passed the Inflation Reduction Act, which is now going to the House where it is expected to pass. While the bill primarily focuses […]
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Help for the Connecticut Hospitality Industry
The Connecticut Hospitality Industry Support Program was implemented by the American Rescue Plan Act and allocated $30,000,000 to the Department of Economic and Community Development (DECD). DECD utilized data from the […]
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Is that Really the IRS Reaching Out to You?
With phishing and other scams on the rise, the IRS recently released a Fact Sheet to help taxpayers understand how and why agency representatives may contact them and how to […]
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Whistleblowers Help IRS Identify Noncompliance
Each year, the IRS receives thousands of tips from individuals who identify taxpayers who may not be abiding by U.S. tax laws. John Hinman, Director, IRS Whistleblower Office, recently talked […]
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BEAT Qualified Derivative Payment Reporting Deferred Until 2025
The IRS has amended the base erosion and anti-abuse tax (BEAT) regulations to defer reporting requirements for qualified derivative payments (QDPs) until the 2025 tax year. What is BEAT? In 2017, […]
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That Balance Due Notice from IRS May Be Incorrect
Have you received a balance due notification from the IRS? If so, you may not owe anything after all. The IRS recently admitted that some married couples received erroneous balance […]
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How Will Higher Interest Rates Impact Small and Mid-Sized Businesses
You can’t go anywhere these days without hearing about inflation. In simple terms, it is caused when we have too little supply to meet increased demand for goods and services. […]
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New Small Business Loan Program in Connecticut
Are you a business or non-profit with fewer than 100 full-time employees? You may be eligible for a loan from the new Connecticut Small Business Boost Fund. Announced by the […]
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