The IRS created the First-Time Penalty Abatement program to give taxpayers who have a clean compliance history a second chance. It applies to these common penalties: Failure to File (FTF) Failure to Pay (FTP) Failure to Deposit (FTD) payroll taxes
The $17,000 Lesson: Why You Must Monitor IRS 941 Overpayments Before They Disappear
By Joe Serrone
Most business owners think IRS overpayments are safe. That if the government owes you money, you’ll either get it automatically or be contacted in time. That assumption can cost you thousands. Recently, one of our clients had a $17,000 overpayment…
Don’t overlook the proliferation of sales factor denominator disputes
For decades, the sales factor has been a primary focus of state and local tax articles and a hot topic of discussion at conferences across the country, and the attention is well deserved. There has been no shortage of impactful…
18th Anniversary of the 21st Century Taxation Blog
Zalma’s Insurance Fraud Letter – May 15, 2025
By Barry Zalma
ZIFL Volume 29, Issue 10
The Source for the Insurance Fraud Professional
Subscribe to the e-mail Version of ZIFL, it’s Free!
Post 5074
See the full video at https://rumble.com/v6tdc8t-zalmas-insurance-fraud-letter-may-15-2025.html and at https://youtu.be/oULm-CUvuZ0
Read the full 20 page issue of…
SALT trivia – May 14, 2025
Calling all trivia fans! Don’t miss out on a chance to show off your SALT knowledge!
We will award a prize for the smartest (and fastest) participant.
This week’s question: Which state recently passed a bill that raised the transient accommodations…
CGL Is Not a Medical Malpractice Policy
By Barry Zalma
Professional Health Care Services Exclusion Effective
Post 5073
See the full video at https://rumble.com/v6tbn31-cgl-is-not-a-medical-malpractice-policy.html and at https://youtu.be/bleix1Lr4Ho
This opinion is the recommendation of a Magistrate Judge to the District Court Judge and involves Travelers Casualty Insurance Company and its duty…
Call To Action for Nonprofits Re: Tax Bill Markup Today
There is critical activity right now in the U.S. House of Representatives on the GOP’s major tax bill. If it passes Congress, it will be the culmination of a long-held wish list to (1) extend the deep tax cuts enacted…
A preemption of state taxes on AI? House Committee proposes state and local AI regulation moratorium
Yesterday, the U.S. House of Representatives’ Energy and Commerce Committee released its draft reconciliation bill. This bill, which will go through markup today, includes the “Artificial Intelligence and Information Technology Modernization Initiative.” The Committee proposes a 10-year moratorium…
Taxes in Washington State May Be Rising
By Larry Brant
Many individuals, wanting to liberate their wallets from taxes, have moved to states like Washington, Nevada, Texas, Florida and other states that have friendly state and local tax regimes. This trend, especially for residents of high-tax states such as New…