The IRS issued a warning to Employers about third parties promoting improper employee retention credit claims.
If you are contacted by one of these third parties, please call Charles or Chris at 252-631-1410
Follow this link: https://www.irs.gov/newsroom/employers-beware-of-third-parties-promoting-improper-employee-retention-credit-claim
By Alistair M. Nevius, J.D. June 29, 2025 Updated: July 4, 2025 Related July 7, 2025 Below are details of many of the tax provisions in the One Big Beautiful Bill Act, which was signed into law Friday by President Donald Trump. The House approved the measure Thursday in a 218-214 vote, after the Senate approved…
NC-2025-01, April 17, 2025 WASHINGTON — Due to the lingering effects of Hurricane Helene, the Internal Revenue Service today further postponed until Sept. 25, 2025, a wide range of tax deadlines for taxpayers throughout North Carolina. Previously, the deadline had been May 1, 2025, for Form 1040 filers, among many others. The IRS is offering…
Updated Information on Advance Child Tax Credit Payments: The American Rescue Plan Act of 2021 (ARPA) expanded the Child Tax Credit (CTC), which is payable in advance for 2021. The IRS has started sending letters to more than 36 million American families who, based on either their 2019 or 2020 federal income tax return, may…
To Our Clients and Friends: The past year has been challenging to say the least. Hopefully the COVID-19 crisis, which affected all of us in some ways, is nearing the end. While it has been difficult to focus attention on much other than the health and safety of our loved ones, tax planning can’t take…
By Stephanie Phillips On July 4, 2025, a new bill was signed into law. Among the tax law changes, a new deduction for seniors who are 65 and older was put in place to help reduce taxable income, including taxed social security benefits. This deduction is called the enhanced deduction for seniors. The deduction is…
*Biden Administration tax proposal for 2022* • Raise corporate tax rate from 21 percent to 28 percent • Eliminate credits, deductions and other tax provisions that are targeted towards encouraging oil, gas and coal production • Provide additional tax credits to extend and enhance renewable and alternate energy incentives • Establish new business tax credit…