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Internal Revenue Service

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SQRL Sale? Acquisition Nears Amid Financial Troubles

Amid rumblings of payroll problems and more staff cuts, SQRL Service Stations is entertaining new ownership. read more >
Banking & Finance / Government & Politics / Legal / Small Business

IRS Claws Back Money Given to Businesses Under Fraud-Ridden Tax Credit Program

“We remain deeply concerned about widespread abuse involving these claims that have harmed small businesses,” said IRS Commissioner Danny Werfel. read more >
Banking & Finance / Small Business

Tax Changes Small Business Owners Should Be Aware Of as Tax Deadline Looms

Unlike individuals, small businesses can have varying deadlines depending on the type of company, the state the taxes are filed in, and other factors. read more >
Banking & Finance / Business Services / Energy / Government & Politics / Public Companies / Transportation

IRS Targets Execs Who Use Business Jets for Personal Travel

WASHINGTON (AP) — First, there were trackers on Taylor Swift and other celebrities’ private jet usage. Now, there will be more scrutiny on executives’ personal use of business aircraft who write it […] read more >
Business Services / Legal / Small Business

Zenwork Launches AI-Driven Tax Assist Program

Zenwork of Fayetteville has launched a new tax preparation service for businesses that is driven by generative artificial intelligence. read more >
Banking & Finance / Business Services / Government & Politics / Legal / Small Business

IRS Freezes Pandemic-Era Tax Credit Due to Influx of Fraudulent Claims

The Employee Retention Credit was designed help small businesses keep paying their employees during the height of the pandemic if they were fully or partly suspended from operating. read more >
Banking & Finance / Government & Politics

IRS Plans to Crack Down on Millionaires to Collect Back Taxes

The agency said 1,600 millionaires and 75 large business partnerships owe hundreds of millions of dollars in past due taxes. read more >
Education / Nonprofits

IRS Throws a Chill Into Collectives Paying College Athletes While Claiming Nonprofit Status

If the collectives aren't tax-exempt, the donations they collect that are used to pay quarterbacks, point guards and pitchers may not be, either. read more >
The Internal Revenue Services building in Washington, D.C.
Banking & Finance / Government & Politics / Investments

IRS Pledges More Audits of Wealthy, Better Customer Service

Some improvements have been long expected, such as bringing more paper-based systems online and answering taxpayers' phone calls promptly. Others are more ambitious: continuing to explore ways to create a government-operated electronic free-file tax return system, for example. read more >
The Internal Revenue Services building in Washington, D.C.
Banking & Finance / Government & Politics / Investments

IRS Raises Contribution Limits for Retirement Savings Plans

The changes, among others announced by the IRS Friday, make it easier for retirement savers who use these types of tax-advantaged plans to set aside more of their income toward building their nest egg. read more >
Internal Revenue Service headquarters in Washington, D.C.
Government & Politics / Legal / Restaurants & Food / Small Business / Tourism

Rod’s Pizza Responds to Uncle SamLock Icon

The famed Hot Springs restaurant is being sued by the IRS for more than $586,000 in back taxes. read more >
Business Services / Government & Politics / Investments / Legal

Is the Pass-Through Entity Tax Right for You? (Commentary)

In 2022, businesses have their first opportunity to pay the Arkansas pass-through entity tax (PET) rather than passing the state income tax obligation through to its owners. read more >
Energy / Government & Politics

Central Arkansas Water Does Double Take After IRS GlitchLock Icon

An erroneous tax lien claim said that the utility was in arrears to the tune of nearly $1 million. read more >
Gene Cauley
Legal / Real Estate

Special Administrator Named in Cauley CaseLock Icon

The feds filed a lawsuit against the estate of S. Gene Cauley in U.S. District Court in Hot Springs and needed someone to be named as a special administrator of the estate to be served with the paperwork. read more >
Opportunity Matters Arkansas, a Conway nonprofit that facilitates home loans to undocumented immigrants, was founded by Bunny Adcock, left, director and co-founder of Home BancShares Inc. Francisco Yanez, owner of FYI Taxes & Insurance, is president of OMA.
Banking & Finance / Business Services / Government & Politics / Insurance / Nonprofits / Real Estate

Undocumented Immigrants ID’d for Home Loan MissionLock Icon

Conway nonprofit builds a financial bridge to home ownership for undocumented immigrants. read more >
Banking & Finance / Business Services / Government & Politics / Legal / Small Business

Hogs Get Slaughtered (Gwen Moritz Editor’s Note)

As I studied up on dozens of PPP fraud cases filed around the country since May, several common elements began to emerge. read more >
Kade Holliday, the former Craighead County clerk, made a commitment of $500,000 to establish jazz studies programs at Arkansas State University. That was before he was accused of embezzling $1.6 million from the county, which is suing to get its money back.
Banking & Finance / Education / Government & Politics / Legal / Media & Marketing / Real Estate / Restaurants & Food

Kade Holliday: Former County Clerk Accused of Fraud, All That JazzLock Icon

Five weeks after allegations surfaced that former Craighead County Clerk Jacob “Kade” Holliday had embezzled more than $1.6 million from taxpayers, another purported victim was still looking for answers. read more >
The grounds of the U.S. Capitol building on March 17, 2020 — nearly deserted after the virus COVID 19 is declared a global pandemic by the World Health Organization.
Banking & Finance / Business Services / Insurance / Legal

Inside New Retirement Provisions of the CARES Act (Commentary)

As part of the $2 trillion economic relief package signed into law on March 27, Congress relaxed certain restrictions and requirements on retirement funds. Here's what to know. read more >
Government & Politics

Philip Butcher Still in Tax Trouble Over RefundLock Icon

Filing false federal income tax claims for the 2008 tax year still is haunting Philip Butcher of Rogers. read more >
Lake Village Rehabilitation & Care Center is at the heart of a lawsuit.
Business Services / Health Care / Insurance / Legal / Nonprofits

Nursing Home Lawsuits Test Nonprofit ImmunityLock Icon

A company behind about two dozen nursing homes in Arkansas is facing increasing scrutiny over the nonprofit status of its facilities, which plaintiffs have dismissed as a ploy to avoid liability in cases alleging improper care. read more >