Tax

Lawmakers are asking the Internal Revenue Service to expedite the processing of Employee Retention Tax Credits and not to penalize small businesses for incorrectly paying their estimated quarterly taxes as they await their claims.

Rep. Bill Pascrell is looking at coach compensation information to see if their large salaries run afoul of the schools’ tax-exempt status.

Your clients with household help — such as nannies, housekeepers and senior caregivers — may be paying their workers through a mobile app like Venmo or PayPal. It’s quick and easy, but thanks to a new tax-reporting rule, it may no longer be a good idea.

Internal Revenue Service Commissioner Charles Rettig pledged to do more to improve taxpayer service after Congress approved a $675 million funding increase.

Special deal for undercover agents; class dismissed for 14 months; defense rests; and other highlights of recent tax cases.

The service is outmatched in resources and expertise when it audits some of the largest companies in the country, the agency’s top official said.

Additional reasons for uncertainty in 2022 include surging inflation, interest rate increases, war in Europe, global minimum taxes and the continuing pandemic adding to worries.

The service has added more forms, publications and other information in Spanish Braille and other languages.

The European Union failed to quickly agree on how to implement a global minimum tax for corporations after concessions proposed by France failed to win over reluctant countries.

A state reinterpretation of an old law could mean a new tax liability for businesses that have sold remotely into the Golden State.