Margaret Krajcer, JD, is vice president and general counsel of Tax Credits Group, a Cleveland-based firm specializing in federal and state R&D tax credits and the Employee Retention Credit. [...]
Submitted by Margaret Krajcer, JD, vice president and general counsel of Tax Credits Group. TCG is a Cleveland-based firm specializing in federal and state R&D tax credits and the [...]
Did you know that the SCDOR's MyDORWAY site has a way for you to access your clients' accounts for business personal property, manufacturing property, and utility property taxes. There [...]
The SCACPA Tax Team has openings for CPAs to assist with research, write and edit educational material, and speak on focused topics. If you (or someone in your organization) [...]
Practitioners See Need for Guidance on Controlled Group Rules Provisions of the controlled group rules have been working their way beyond qualified plans, making the code section ripe for [...]
Nichol's Tax Update, Issue 21-44 IRS Cracking Down on Crypto Noncompliance The IRS is going full steam ahead on addressing noncompliance related to cryptocurrency, and tax professionals may need [...]
Nichols’ Tax Update, Issue 21-43 IRS Announces New FAQ Process With Penalty Protection The IRS plans on releasing significant FAQs on new tax statutes in fact sheets and promises [...]
Nichols' Tax Update, Issue 21-42 Extension Granted to File Election After Ownership Change The IRS granted a taxpayer an extension to file a closing-of-the-books election after an ownership change. [...]
Nichols' Tax Update, Issue 21-41 Economic Nexus . . . Remote Seller in South Carolina At ‘Press time” only three states, Alaska, Montana, and Oregon had NOT enacted some [...]
Each year businesses, organizations, and even government entities are required by state law to report unclaimed property to the State Treasurer’s Office by Nov 1. Whether your clients ask [...]
Nichols Tax Update 21-40 IRS Announces Extension of Replacement Period for Sold Livestock The IRS has announced (IR-2021-193) that farmers and ranchers who previously were forced to sell livestock [...]
The following content is brought to you by the SCDOR: The South Carolina Department of Revenue (SCDOR) announces several updates to its Withholding process that will greatly benefit tax [...]
Divorce-Related Property Transfers Are Tax Free The IRS ruled that an annuity payment arrangement includes nontaxable transfers between former spouses that are incident to divorce under section 1041 and [...]
Amount Paid for Psychotherapy Excludable From Settlement Income The Tax Court, in a summary opinion, held that an individual could not exclude from income half of the $55,000 in [...]
Nichols Tax Update Issue 21-36 Memo Provides Guidance on Partnership Election Revocation Requests The IRS Large Business and International Division and the IRS Small Business/Self-Employed Division have issued a [...]
Nichols Tax Update Issue 21-35 Fact Sheet Lays Out Information on Advance Child Tax Credit The IRS has issued a fact sheet (FS-2021-11) on how to use the advance [...]
Nichols’ Tax Update Podcast: Issue 21-34 Aunt Entitled to Child Tax Credits, Dependency Deductions The Tax Court, in a summary opinion, held that an individual is entitled to dependency [...]
Nichols’ Tax Update Podcast: Issue 21-33 IRS Offers Safe Harbor for Employers Using Retention Credit New IRS guidance will allow employers to exclude some items from their gross receipts to [...]
Nichols’ Tax Update Podcast- Issue 21-32 IRS Urges EIN Holders to Update Responsible Party Information The IRS, citing security issues, has urged (IR-2021-161) entities with employer identification numbers to [...]
Nichols’ Tax Update Podcast- Issue 21-31 Retiree Must Pay Taxes on Garnished Income The Tax Court sided with the IRS in finding that the state debt repayment deductions from [...]
Nichols Tax Update: Issue 21-30 Trending in this edition: IRS Launches New Tax Pro Account Feature The IRS has announced (IR-2021-154) the launch of its new Tax Pro Account, [...]
Nichols’ Tax Update Podcast: Issue 21-29, IRS Issues Fact Sheet on Child Care Tax Credit Advances, and much more! Bank Is Immune From Liability for Complying With IRS [...]
More than 20 South Carolina counties have adopted the standardized online filing of PT-100 with SC Department of Revenue. MyDORWAY is the SCDOR's online platform for filing PT-100s. Led [...]
Nichols’ Tax Update: Issue 21-28 Christian Group That Battled IRS Receives Exemption After All, and much more! Temporary Regs Implement Requirements Regarding Surprise Billing Federal agencies, including Treasury, have [...]
Nichols’ Tax Update Podcast, Issue 21-26 10 Topics this week: **** IRS Will Not Acquiesce in TriNetHolding on FICA Tip Credits In an action on decision the IRS has announced [...]
Welcome to the Federal Tax Update Podcast, hosted by Lynn Nichols. This is presented as a member benefit by the South Carolina Association of CPAs. It is produced to [...]
Spring Splash Reminder! SCACPA is offering more than 60 hours of livestream learning in May and June. There’s still time to register for Lynn Nichols’ informative livestream Tax sessions: Net Operating Losses [...]
SCACPA is proud to be a long-time partner with the SC Department of Revenue in promoting the SCDOR’s high-quality CPE learning. As the SCDOR continues to offer its 2021 [...]
Spring Splash Reminder! SCACPA is offering more than 60 hours of livestream learning in May and June. There’s still time to register for Lynn Nichols’ informative livestream Tax sessions: Net Operating Losses [...]
South Carolina recipients of unemployment compensation are allowed to exclude from state taxes up to $10,200 of benefits they received in 2020, thanks to Gov. Henry McMaster signing into law [...]