As mentioned in our January 18, 2021 blog posting titled, “State Conformity to CARES Act,” many states have not yet conformed or adopted the changes under the CARES Act or the Consolidated Appropriations Act 2021 (CAA). Indiana has “static”
Good news from the IRS. In Notice 2020-39, the IRS has laid out certain extensions to deadlines imposed on Qualified Opportunity Funds (QOFs) and their investors due to the COVID-19 pandemic. The IRS previously extended certain due dates under
In a new Fact Sheet, the IRS has detailed out the new depreciation deduction law changes under the Tax Cuts and Jobs Act. The Fact Sheet highlights changes in: Section 179 Expense Limit Increases 100% First Year Bonus Depreciation
It’s no secret that identity theft is on the rise. In a news release dated July 25, 2017, the IRS discussed an increase in the number of business returns being targeted. Of those business returns filed through June 1,
The IRS has issued a fact sheet to remind employers that so-called “automatic gratuities” and any amounts imposed on the customer by the employer are service charges, not tips. Some examples of service charges include automatic gratuities for large
It’s no surprise new housing is booming in Indiana. Just look around, and you’ll see homes being built at a record pace. Dan McGowan, Senior Write/Reporter of Inside INdiana Business, and Rick Wajda, CEO of the Indiana Builders Association,
In its payroll industry telephone conference call on 7/2/15, the IRS said that employers can request an extension of the Affordable Care Act (ACA) deadlines for filing information returns with the IRS and furnishing ACA statements to payees, as
The IRS announced that taxpayers who filed a tax return using an incorrect Form 1095-A are not required to, but may, file an amended return. As reported on Monday, February 24, the Centers for Medicare and Medicaid Services (CMS)
The office of the Indiana Secretary of State recently released a warning regarding a deceptive letter sent to Indiana business owners soliciting a $125 annual fee for record keeping and processing. The letter appears to have come from the
The U.S. government’s Centers for Medicare and Medicaid Services (CMS) announced that it sent incorrect information on Form 1095-A (Health Insurance Marketplace Statement) to approximately 800,000 taxpayers who purchased Federally-facilitated Marketplace health care coverage in 2014 and received advance
The IRS Associate Chief Counsel, in a letter issued on December 17, 2014, addressed the following two questions: Whether a real estate agent is engaged in a real property brokerage trade or business within the meaning of § 469(c)(7)(C)?
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