(212) 736-0055

Schedule Your Small Business Success Consultation

Blog

Guidance on Applying Per Diem Rules to Fully Deductible Restaurant Meals

Guidance on Applying Per Diem Rules to Fully Deductible Restaurant Meals The IRS issued guidance related to the application of the per diem rules under Rev. Proc. 2019-48 to the temporary 100-percent deduction for business meals provided by a restaurant. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 ( P.L. 116-260) temporarily increased the deduction from […]

Read more

Guidance Released for Tax Treatment and Reporting Requirements for HAF Payments

Guidance Released for Tax Treatment and Reporting Requirements for HAF Payments The IRS has released guidance which addresses the federal income tax treatment and information reporting requirements for payments made to or on behalf of financially distressed individual homeowners by a state with funds allocated from the Homeowner Assistance Fund (HAF). The fund was established […]

Read more

Simple Steps to Assist Taxpayers Make 2022 Tax Filing Easier

Simple Steps to Assist Taxpayers Make 2022 Tax Filing Easier The IRS has urged taxpayers, including ones who received stimulus payments or advance Child Tax Credit payments, to follow some easy steps for accurate federal tax returns filing in 2022. Organized tax recordsTaxpayers can easily prepare complete and accurate tax returns with the help of organized […]

Read more

G20 Endorses Global Corporate Minimum Tax Rate of 15-Percent

G20 Endorses Global Corporate Minimum Tax Rate of 15-Percent All members of the G20 on October 30 endorsed a global corporate minimum tax rate of 15 percent in an effort to eliminate countries slashing corporate tax rates and creating tax shelters to attract large multinational corporations. The agreement comes on the heels of an international […]

Read more

Jurisdiction Over Petition for Redetermination of Whistleblower’s Award Not Extinguished by Death

Jurisdiction Over Petition for Redetermination of Whistleblower’s Award Not Extinguished by Death In a case of first impression, the Tax Court retained jurisdiction over a petition for redetermination with respect to a whistleblower’s claim for an award after the petitioner’s death. The informant filed a claim for an award with the IRS Whistleblower Office (WBO) […]

Read more