ABITOS TAX

What Is “Beneficial Ownership” and Why Is it Relevant to Your Business?

The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) recently issued proposed regulations with details to begin compiling...

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Top Five Tips to Help Your Business Cope With Rising Inflation

What is the Difference between an Accountable Vs. a Non-Accountable Plan When Reimbursing Employee Expenses?

What You Need to Know About How the US Treats  Foreign Life Insurance Policies

Failing to Comply With New Form 8858 Filing Requirement for Foreign Realty Rentals and Business Income Can Result in Loss of Tax Credits 

Beware of a new text message scam, warns the IRS and its security partners.

Taxpayers who suffer uncompensated losses may be able to claim a tax deduction, if they meet certain conditions.

For nine quarters, a corporation filed returns and paid payroll taxes late.

Tax overpayment and underpayment interest rates will remain unchanged for the first quarter of 2021.

The IRS is reminding employers that they must file Form W-2 and other wage statements by Feb. 1, 2021, to avoid penalties and help the IRS prevent fraud.

The Treasury Inspector General for Tax Administration (TIGTA) has issued its “Semiannual Report to Congress: April 1, 2020 – September 30, 2020.”

A new report says “urgent actions” are needed by the IRS for COVID-related tax relief.