- Beginning January 1, 2014, the IRS is requiring employers to classify automatic gratuities as service charges. Service charges distributed to employees are treated as regular wages, subject to normal payroll tax withholding rules.
- Water utility infrastructure placed in service after January 4, 2014 must meet new lead standards.
- A recent IRS memorandum states that claiming section 6426(c) excise tax credits does not result in taxable gross income under section 61. As a result, many in the petroleum and ethanol industries may be eligible for federal income tax refunds for all open tax years in which they reported these credits.
- With a record setting attendance of over 19,000 people visiting the International Dairy Show and Process Expo, there was ample opportunity for our Valued Business Advisors in the food processing industry to keep abreast of trends and discuss industry challenges.
- Tax Incremental Finance allows municipalities to invest in infrastructure projects necessary to improve their communities.
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