Third-Party Liability for Repaying Employee Retention Credits

Many businesses outsource their human resources to third parties called Professional Employer Organizations (“PEOs”). PEOs are particularly popular with small businesses. The benefits of using a PEO include allowing the business to focus on its business operations rather than HR activities and giving employees access to better employee benefits. This is achieved by having the……

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Using Accounting Records in Tax Court

Whether one likes it or not, the federal government is their business partner. The tax code is often compared to a partnership agreement that sets out the share of the income that belongs to the federal government. Continuing the analogy, the records the business keeps are the support for making the allocation between the taxpayer……

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The IRS’s Bank Deposit Analysis

When conducting an audit involving income tax returns, the IRS will almost always check for unreported income. The IRS has specific procedures for conducting this type of income verification. This often involves a bank deposit analysis by the IRS agent. This type of analysis can be used to identify unreported income, but it can also……

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