Posts Tagged ‘IRS’

Inflation Reduction Act and the Increase in IRS Resources

Aug 29, 2022 | Accounting Updates, Blog, Edward McWilliams, Long Island Business

The Inflation Reduction Act was signed into law by President Biden on August 16, 2022.  The bill came as a surprise to many as it appeared somewhat out of nowhere after it was believed any legislation was politically dead.  We discussed the provisions of the act when...

IRS Requirement for Mandatory Plan Restatement Deadline April 30, 2016

Feb 2, 2016 | Employee Matters, Home Page

As a result of the Pension Protection Act (“PPA”) of 2006 and legislation thereafter, tax-qualified retirement plans have undergone many changes. Rules, as established by the Internal Revenue Service, mandate that qualified defined contribution plans (profit sharing...

EZ? The IRS?

May 14, 2014 | Nonprofit

Well the IRS just released a new form 1023EZ.  This is the form that certain smaller nonprofit start-ups will need to file to get tax exempt status.  Imagine that, the IRS looking to streamline processes, instead of looking to make things more difficult. In order to...

IRS Audits are Lower than Ever!

Apr 15, 2014 | Long Island Business

This April, as our children anxiously await the arrival of the Easter Bunny to stuff their baskets full of cavity-causing agents, one agent the average American will have an ever-lowering chance of encountering is the IRS agent. Budget cuts and new responsibilities...