The Iowa Tax Cafe Blog, published by Dickinson, Mackaman, Tyler & Hagen, P.C., focuses on tax law issues relevant to businesses and individuals in Iowa. It covers topics such as employee retention credits, IRS audits and appeals, tax dispute resolution, tax planning, and compliance with state and federal tax regulations. The blog also addresses practical challenges related to tax credits, including interactions with professional employer organizations and IRS enforcement actions. It provides guidance on navigating complex tax matters, including protest procedures and risk assessments of tax claims, with an emphasis on recent developments affecting taxpayers in Iowa and beyond.
Does the disruption of an employer’s supply chain during the Covid pandemic qualify them for the Employee Retention Credit (“ERC”)? The IRS is leaning towards no.
In a Generic Legal Advice Memorandum (“GLAM”), dated June 30, 2023, the IRS illustrated…
The IRS has repeatedly warned businesses of promoters presenting wildly misleading claims about the Employee Retention Credit (“ERC”), leading to “many invalid [ERC] claims . . . coming into the IRS.” Indeed, the ERC made the top of…
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“For the start of the annual Dirty Dozen list of tax scams, the IRS spotlighted Employee Retention Credits following blatant attempts by promoters to con ineligible people to claim the credit.” — IRS, March 20, 2023.”
The Employee Retention Tax Credit (“ERC”) has been a hot topic in tax circles lately. A refundable payroll tax credit for businesses meeting certain requirements that was enacted alongside the Paycheck Protection Program in 2020, the ERC was widely overlooked…
The Employee Retention Tax Credit (“ERC”) has been a hot topic in tax circles lately. Enacted alongside the Paycheck Protection Program in 2020, the ERC was widely overlooked until recently. As the ERC has become more widely discussed, several misconceptions…
Dickinson, Mackaman, Tyler & Hagen, P.C. is pleased to announce that once again attorneys of the firm have been named by Best Lawyers to all three of its recognition lists for 2023.
Based on peer reviews, those recognized by Best Lawyers…
UPDATE – ON DECEMBER 21, 2020 CONGRESS ANNOUNCED A NEW STIMULUS PACKAGE THAT WILL ALLOW EXPENSES PAID WITH THE PROCEEDS OF A PPP LOAN TO BE DEDUCTED IN FULL.
During the week of November 20, the IRS issued two rulings,…
This week the IRS issued two rulings, Revenue Ruling 2020-27 and Revenue Procedure 2020-51 providing guidance to taxpayers who have received Paycheck Protection Program (PPP) loans.
Although the forgiveness of a PPP Loan is not taxable, expenses paid with the…
All startups begin with an idea. But while you’re focusing on turning your idea into reality, don’t forget about the legal issues that can have a real impact on your new venture.
From founding issues and what type of legal representation you need,…
