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2023 Dirty Dozen summary

Employee Retention Credit claims Taxpayers should be aware of aggressive pitches from scammers who promote large refunds related to the Employee Retention Credit (ERC). The warning follows blatant attempts by promoters to con ineligible people to claim the credit. The...

Fraudulently Files Returns

If the IRS determines that fraud exists, fraud penalties could be applied to the additional tax accessed. The fraud penalty is an additional tax of 75% of the portion of the underpayment attributable to the fraud.  Filing 941-X or 94-X will not necessarily alleviate...

Amending Payroll Tax Returns

If you are claiming after the fact ERC refunds you need to amend filed payroll tax returns. The IRS has issued special statues of limitations for amending: For 2020 payroll tax returns, statute closes 4-15-24 For 2021 payroll tax returns, statue closes 04-15-25 If...

The ERC (Employee Retention Credit)

Due to the perceived popularity of the ERC firms have been popping up and promoting the ERC. While this has been going on the IRS has been issuing advisory warnings of third parties promoting improper ERC claims to employers who may or may not qualify for the ERC. ...

The newest MBA’s

As someone who has an MBA, but not from a prestigious school. I didn’t have a mentor when I truly needed one. I was surprised to read that large firms are on hold with new hires. Imaging spending at least two years working on your future and being surprised that those...

Reading in the US

I am always curious on a number of topics as this blog has shown in the past.  The latest instance was who is reading in the us and what are they reading? So, I found a 2022 Nation survey on US reading statistics.  Here are their parameters. “The pandemic shifted the...

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