Review our recent accounting, tax, audit, and other insightsHighlighting important news in accounting
DOL Announces 2023 Form 5500 & Other Updates
Earlier this month, the Department of Labor (DOL) issued several updates that not only impact IRS Form 5500 but call for several reporting changes.
Clean Energy Tax Incentives for Individuals
Over the last few years, there has been an increase in the popularity of hybrid, plug-in electric, and other energy efficient vehicles.
Tax News Update – May 2023
One of the new requirements to claim an up to $7,500 tax credit on the purchase of a clean vehicle, effective for 2023, is that the clean vehicle must:
Exercise Caution When Claiming the ERTC
The Employee Retention Tax Credit (ERTC) is the only COVID-19-era tax incentive that Denver organizations can still claim.
Federal Tax Credits Available for Purchase of EVs
The automotive industry continues to move toward expanding offerings to include electric vehicles (EVs) options.
Tax News Update – 2023
The IRS has released the 2023 standard mileage rates for taxpayers to use in computing the deductible costs…
Changes to DOL’s Voluntary Fiduciary Correction Program
Denver retirement plan fiduciaries who want to take advantage of the Employee Plan Compliance Resolution System will soon have more opportunities.
Form 1099-K Updates for 2023
In a reversal from earlier guidance, the IRS recently announced a delay in the lower $600 reporting threshold for Form 1099-K for the 2022 tax year. regulations.
Employer Provisions in the SECURE Act 2.0
On December 29th, President Biden signed the Consolidated Appropriations Act of 2023. Although primarily a spending bill that funds the federal government for the year, it did include important retirement plan reforms.