Advisory | | Jul 12, 2021
Since the audience for this article comprises accountants, let’s start with a number: 35%. What is that? It is the percentage of organizations in the United States that have “a formalized succession planning process.” Meaning just a little over one-third of U.S. businesses are prepared for the multitude of forces that can trigger the need for succession, from something as dramatic as an owner’s death to an unexpected exodus of top talent. Read more
The IRS is cracking down on perceived fraud in Employee Retention Tax Credit claims.
The IRS announced and released Notice 2023-74 today which provides a further transition period for the requirement placed on third party payors by the American Rescue Plan Act (ARP) of 2021.
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On September 14th the Internal Revenue Service placed a moratorium on the processing of new Employee Retention Tax Credit claims until at least 2024.
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