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 >
The agency said 1,600 millionaires and 75 large business partnerships owe hundreds of millions of dollars in past due taxes. read more >
On one side, civil society groups this week launched a coalition to promote the move toward a government-run free-file program. On the other, tax preparation firms like Intuit — the parent company of TurboTax — and H&R Block have been pouring millions into trying to stop the idea cold. read more >
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 >
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 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 >
The famed Hot Springs restaurant is being sued by the IRS for more than $586,000 in back taxes. read more >
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 >
An erroneous tax lien claim said that the utility was in arrears to the tune of nearly $1 million. read more >
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 >
Conway nonprofit builds a financial bridge to home ownership for undocumented immigrants. read more >
As I studied up on dozens of PPP fraud cases filed around the country since May, several common elements began to emerge. read more >
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 >
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 >
Filing false federal income tax claims for the 2008 tax year still is haunting Philip Butcher of Rogers. read more >
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 >
Technically, the new tax law is working as designed: lower tax revenue offset by more borrowing, the benefit of which has flowed primarily to corporations and the wealthiest individuals. But politically, it’s a bust. read more >
Business email compromise (BEC), a type of fraud that uses fake employee emails, on the rise and shows no signs of slowing down. read more >
A Fayetteville attorney who was involved in an adoption case that resulted in a malpractice lawsuit against him has filed for Chapter 13 bankruptcy reorganization, listing potentially $1.9 million in debts. read more >
Doing your own taxes can be like changing your own motor oil, Little Rock CPA Brian Thompson says. Even if it’s simple, it can be a mess. read more >
