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In November 2020, the voters approved Proposition 22, the Protect App-Based Drivers and Services Act (Bus. & Prof. Code, §§ 7448–7467). This meant app-based drivers such as Uber, Uber Eats, Lyft, and GrubHub, could be classified as independent contractors by the...
The IRS is providing an additional automatic filing and payment extension to taxpayers in disaster zones. If your address on file with the IRS (the address from your most recently-filed tax return) is in one of these California counties, you will now have until...
The IRS issued a warning this week for those claiming Employee Retention Credits (ERCs), as third parties continue to promote these credits to ineligible people. Online and radio advertisements by promotors promising huge tax savings should be taken with caution, as...
This Saturday, March 11th, the IRS will be holding open Taxpayer Assistance Centers across the nation to provide in-person help without any appointment necessary. Additional upcoming Saturdays are planned to remain open as well. The IRS is working to improve its...
The IRS reminds taxpayers to report all of their worldwide income and ownership of some assets or transactions including cash payments, income from goods and services earned through the gig economy, transactions involving cryptocurrency, and ownership of certain...
The Treasury Inspector General for Tax Administration (TIGTA) performed an audit of the IRS’ employment tax examination processes, and concluded in its February 13, 2023 report that improvements are necessary. Specifically, the classification process (classifying...
Sanction Russians identified as “elites, oligarchs, and their proxies” have been identified as possible investors in the U.S. commercial real estate market. FINCen, the Financial Crimes Enforcement Network, has alerted financial institutions to these potential...
The IRS reminds taxpayers that it is important to make sure you have a preparer with the level of skill required based on the complexity of your tax return. While most tax preparers are ethical, some are not. The IRS warns of scams to avoid when choosing a tax...
The IRS is urging businesses to file their information returns electronically on its new free portal, estimating this will reduce millions of paper Forms 1099! For details on the IRS’ newly launched Information Returns Intake System (IRIS), click here.
Many of our new business clients ask, “How can I engage independent contractors after the passage of AB 5?” While Assembly Bill No. 5 (2019) (“AB 5”), and its successor, Assembly Bill No. 2257 (2020) (“AB 2257”), have certainly made it more difficult for businesses to...
