IRS unveils ‘voluntary disclosure program’ for businesses duped by pandemic-era tax credit
https://www.cnbc.com/2023/12/21/irs-unveils-employee-retention-credit-voluntary-disclosure-program.html
Dec 21, 2023 - The IRS has unveiled a "voluntary disclosure program" for businesses that claimed a pandemic-era tax credit in error and want to pay the money back.
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IRS to waive $1 billion in penalties. Here's who qualifies and how much taxpayers may get
https://www.cnbc.com/2023/12/20/irs-offers-1-billion-in-penalty-relief-what-taxpayers-need-to-know.html
Dec 20, 2023 - The IRS is waiving roughly $1 billion in late-payment penalties for millions of taxpayers with balances under $100,000 from returns filed in 2020 and 2021.
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IRS rejects more than 20,000 refund claims for pandemic-related tax credit
https://www.cnbc.com/2023/12/06/irs-rejects-20000-tax-refund-claims-for-employee-retention-credit.html
Dec 06, 2023 - The IRS is sending more than 20,000 rejection letters to taxpayers who wrongly claimed the employee retention tax credit. Here's what filers need to know.
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You may still owe taxes on resold Taylor Swift tickets even without PayPal, Venmo IRS reporting
https://www.cnbc.com/2023/11/28/you-still-owe-taxes-on-resold-taylor-swift-concert-tickets.html
Nov 28, 2023 - The IRS delayed a tax reporting change for payment apps such as Venmo and PayPal, but you may still owe taxes for resold Taylor Swift tickets, experts say.
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IRS delays tax reporting rule change for business payments on apps such as Venmo and PayPal
https://www.cnbc.com/2023/11/21/irs-delays-rule-change-for-1099-k-on-venmo-paypal-business-payments.html
Nov 21, 2023 - If you received business payments via apps such as PayPal and Venmo, you will not be subject to a lower threshold for 1099-K tax reporting for 2023.
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IRS announces new income tax brackets for 2024
https://www.cnbc.com/2023/11/09/irs-here-are-the-new-income-tax-brackets-for-2024.html
Nov 09, 2023 - The IRS on Thursday announced higher federal income tax brackets and standard deductions for 2024. Here's what taxpayers need to know.
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What to know as IRS kicks off withdrawal option for pandemic-era small business tax credit
https://www.cnbc.com/2023/10/23/withdrawing-an-employee-retention-credit-claim-what-to-know.html
Oct 23, 2023 - The IRS has announced a special withdrawal process for small businesses that wrongly claimed the employee retention tax credit. Here's what to know.
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House Republicans push IRS for answers on processing pause for small business tax credit
https://www.cnbc.com/2023/10/04/house-republicans-push-irs-for-answers-on-employee-retention-tax-credit.html
Oct 04, 2023 - House Republicans are pressing the IRS for answers after the agency paused processing new employee retention tax credit claims. Here's what to know.
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Here's what tax pros recommend after the IRS halts processing for small business tax credit
https://www.cnbc.com/2023/09/18/heres-what-to-know-about-employee-retention-tax-credit-claims.html
Sep 18, 2023 - As the IRS pauses on processing new employee retention tax credit claims, some filers are in limbo as the agency works on further guidance. Here's what to know.
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IRS halts processing of a small business tax break amid 'surge of questionable claims'
https://www.cnbc.com/2023/09/14/irs-halts-employee-retention-credit-processing-amid-questionable-claims.html
Sep 14, 2023 - The IRS will immediately stop processing new claims for the employee retention credit to protect filers from a "surge of questionable claims."
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