Withum

JUNE 8, 2022

The Infrastructure Investment and Jobs Act (IIJA), enacted into law on November 15, 2021, reinstated and modified two Superfund excise taxes, effective July 1, 2022. The first is the tax on chemicals under section 4661 and the second is the tax on imported substances under section 4671. The IIJA lowered this threshold to 20%.

Tax 121

Tax Manufacturing tax return tax services 121

ThomsonReuters

AUGUST 9, 2022

Effective July 1, 2022, as required by the Infrastructure Investment and Jobs Act (IIJA) passed last November, the Internal Revenue Service (IRS) has reinstated the Superfund Chemical Excise Tax on a wide range of chemicals and substances. What is the purpose of the Superfund Chemical Excise Taxes? Are exporters being taxed?

Tax 97

Tax Manufacturing tax return Sales 97

CPA Practice

AUGUST 16, 2023

Crypto mining operations—the process of creating new digital coins—have unique tax issues because the rules aren’t clear if miners are taxed as cryptocurrency investors or business owners. There’s different tax implications depending on the answer to that,” Ms. Connolly said. And that’s just the beginning.

cpas 98

cpas Real Estate tax return Tax 98

CPA Practice

OCTOBER 10, 2023

The demand for skilled tax practitioners in the accounting profession has never been more critical. It provides essential services due to the complexity of tax laws and the importance of offering valuable tax-saving advice to clients; and that’s just the tax half of the industry. By Richard Lavina and Ralph Carnicer.

Technology 105

Technology accounting firms accountant Account 105

Withum

AUGUST 11, 2022

The Superfund Excise Tax went into effect on July 1, 2022, and many companies are still struggling to understand whether it applies to their operations and how to properly estimate their potential liability. Even though the Superfund Excise Tax has been implemented in the past, it last expired over 25 years ago. billion of revenue.

Tax 72

Tax Manufacturing tax return Sales 72

ThomsonReuters

OCTOBER 7, 2022

These appropriations are to remain available through the end of 2031. According to the CRS, the number of unprocessed tax returns at the end of the 2022 filing season rose from 7.4 Previously, the IRS partnered with private tax filing software companies to provide free services to low and moderate income taxpayers.

audit 90

audit Tax tax return Start-ups 90

ThomsonReuters

JANUARY 9, 2024

“I think that’s where I’m more worried about it,” James Creech, a senior manager with Baker Tilly’s tax advocacy and controversy team, began. ” However, there is some uneasiness about the use of AI in IRS audits by not realizing the full picture of a tax return.

audit 98

audit Legal Tax tax return 98