On Feb. 16, the IRS Office of Chief Counsel released a legal memorandum concluding that third-party payers, such as professional employer organizations (PEOs), certified professional organizations, and Section 3504 Agents

Continue Reading IRS Determines Third-Party Payers Liable for Clawback of Improper Employee Retention Credit Refunds to Clients

The Internal Revenue Service (IRS) and U.S. Department of the Treasury (Treasury) issued proposed regulations, published in the Federal Register Dec. 26, 2023, applicable to clean hydrogen production facilities.

Continue Reading Clean Hydrogen Tax Credits: IRS Releases Proposed Treasury Regulations

On Dec. 21, 2023, the Internal Revenue Service (IRS) announced a new voluntary disclosure program (VDP) for taxpayers who have received an employee retention credit (ERC) refund for which they

Continue Reading IRS Announces Short-Term Voluntary Disclosure Program for Employee Retention Credits

California’s proposed legislation, Assembly Bill (AB) 886, aimed at imposing a tax on internet platforms for their use of digital journalism content, has been delayed in the Senate but may

Continue Reading California’s Proposed ‘Journalism Usage Fee’ Would Tax Internet Platforms for Linked News

Following their recent announcement regarding new partnership and global high wealth enforcement initiatives, the Internal Revenue Service (IRS) on Oct. 20 announced another enforcement initiative focusing on foreign corporations and the

Continue Reading IRS Ramps Up Enforcement Efforts; Focuses on Foreign-Owned and ‘Mega’ Corporations

Since 2004, New York has provided tax credits to encourage film and television productions located in the state. The credit is 30% of “qualified costs” incurred in the production. Legislation

Continue Reading Proposed Amendments to NY Film Production Tax Credit Would Disallow Costs for Artificial Intelligence