VPTax News & Content
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IRS halts employee retention credit processing
(authored by RSM US LLP) The IRS has temporarily halted processing of employee retention credit claims and will provide additional guidance for businesses.
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IRS extends tax filing deadline for Hurricane Idalia victims
(authored by RSM US LLP) IRS grants disaster relief to hurricane victims in Florida. Affected taxpayers have until Feb. 15, 2024, to file returns and make payments.
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IRS rules on treatment of cryptocurrency validation rewards
(authored by RSM US LLP) In a recent revenue ruling, the IRS stated that blockchain validation awards such as digital coins created by a computer algorithm are gross income to a cash-basis taxpayer at the time of receipt
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IRS provides guidance for required minimum distributions for SECURE 2.0 Act
(authored by RSM US LLP) Notice 2023-54 provides transition relief and guidance relating to certain required minimum distributions based on SECURE 2.0 changes.
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IRS clarifies employee retention credit guidance
(authored by RSM US LLP) IRS guidance addresses full or partial suspensions of operations due to supply chain disruption for ERTC and erroneous ERTC refunds.
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