by Bronswick | Sep 13, 2022 | Blog, News
The IRS on August 23, 2022, announced it will grant automatic penalty relief for late-file penalties imposed with respect to certain returns required to be filed for the 2019 and 2020 tax years. Notice 2022-36 provides systemic penalty relief to taxpayers for certain...
by Bronswick | Aug 23, 2022 | Blog, News
President Biden signed the Inflation Reduction Act into law at a White House ceremony on August 16, finalizing a legislation intended to address inflation by paying down the national debt, lower consumer energy costs, provide incentives for the production of clean...
by Bronswick | Jul 5, 2022 | Blog, News
Businesses that invest in research and development, particularly those in the technology industry, should be aware of a major change to the tax treatment of research and experimental (R&E) expenses. Under the 2017 Tax Cuts and Jobs Act (TCJA), R&E expenditures...
by Bronswick | May 31, 2022 | Blog
How does the IRS go about applying penalties and interest to taxpayers? In this article we’ll be discussing the 4 types of penalty charges, and how the IRS goes about applying them. For clarity: Original Due Date = Generally April 15th for Individual Taxpayers...
by Bronswick | Mar 16, 2022 | Blog, News
The IRS updated its factsheet regarding the Child Tax Credit again on March 8, 2022. As part of the American Rescue Plan Act, the Child Tax Credit (“CTC”) was expanded for the 2021 tax year by offering families advance monthly payments of $250 to $300 per child. Also,...
