On September 14, the IRS announced that it was immediately stopping processing of any new Employee Retention Credit (ERC) claims amid a surge in questionable claims. The moratorium on processing is effective immediately and...
On September 8th, the IRS, following a “top-to-bottom” review of enforcement efforts, announced that it will be shifting more enforcement efforts to “high-income earners, partnerships, large corporations and promoters...
The Internal Revenue Service (“IRS”) Commissioner Danny Werfel stated that the Agency is taking “swift and aggressive action” to strengthen enforcement efforts against high-income individuals. As part of these...
Within one year of its funding boost through the Inflation Reduction Act, the IRS has increased its workforce by nearly 11,000 workers, a 14% increase over 2022 staffing levels. Too fast too soon or just in time? In my humble...
In an August 9th announcement, the IRS said it has identified compliance issues for Employee Stock Ownership Plans (ESOPs). This is on the heels of recent IRS announcements regarding Malta Pension Plans, Puerto Rico...
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