Recent Articles
Doctor’s Double Fraud: Tax Evasion and Medicare Fraud
Illinois physician admits to $1.6M in tax losses and fraudulent Medicare claims, facing significant penalties. An Illinois doctor, Krishnaswami Sriram, has pleaded guilty to tax evasion and Medicare fraud, admitting to hiding assets and submitting false claims, resulting in significant...
R&D Tax Credit: New IRS Rules Demand CPA Expertise
Master Form 6765’s changes to protect clients and maximize innovation incentives. Recent IRS updates to Form 6765 introduce new reporting requirements for the R&D Tax Credit, demanding CPAs to adapt their compliance strategies. Key Focus: Compliance and Maximizing Tax Benefits...
Trump Administration Seeks IRS Data on Undocumented Taxpayers: What It Means
Government’s Move Raises Privacy and Deportation Concerns The Trump administration’s pursuit of IRS data on undocumented immigrants has sparked concerns over privacy, deportation risks, and economic impacts. Key Concerns: IRS-DHS Data Sharing: What’s Happening? The government is actively seeking taxpayer...
Corporate Transparency Act Enforcement Suspended: What Businesses Need to Know
Implications for U.S. Businesses and Beneficial Ownership Reporting The interim final rule issued by the Financial Crimes Enforcement Network (FinCEN) on March 21 marks the end of an on-again, off-again saga for millions of small businesses that began in late...
LLC Tax: Spouses and Partnership Rules Explained
Understanding the Tax Implications for Married Couples in Business Depending on state laws and elected tax status, married couples co-owning an LLC face unique tax considerations. Key Focus: LLC Structures and Tax Treatment Single-Member vs. Multi-Member LLCs LLCs are structured...
Understanding Value-Added Tax (VAT): A Comprehensive Guide for Businesses
Navigating the World of VAT for Global Business Operations If your business operates internationally, it’s crucial to understand Value-Added Tax (VAT), a widespread consumption tax affecting businesses in various ways. Key Focus: VAT Mechanics and Compliance What is VAT? VAT...