Walter Roberts, II of North Carolina helped his clients falsely deduct over $1 billion by lying about the value of charitable contribution deductions made on donated property conservation easements. Roberts did this for more than a decade, inflating some values by as...
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Month: May 2023
Sales Tax Receipts Up 1.9% First Quarter 2023
The California Department of Tax and Fee Administration (CDTFA) has reported a notable increase in first quarter sales and use tax payments this year. CDTFA received $19.3 billion in sales and use tax payments during the first quarter of 2023, up 1.9 percent, or...
IRS Advice on Financial Preparation for Disasters
This week is National Hurricane Preparedness Week and May is National Wildfire Awareness month, and the Internal Revenue Service is offering tips on how to protect your personal information in case of a natural disaster. The IRS recommends: Tax returns, Social...
CALIFORNIA BUSINESSES TO BEAR THE COST IN DEFAULTED UI LOAN
California is defaulting on its COVID-19 pandemic federal unemployment insurance loans, and California employers will bear the cost of the default. California was one of twenty-two states that received federal unemployment insurance loans to cover claims during the...
IRS Reminders for Small Businesses
This week we recognize small business everywhere! To help celebrate, the IRS has provided advice to new businesses so they may take advantage of tax benefits including credits for things like investing in solar power and energy efficiency improvements and vehicles,...