On December 2, 2022, the IRS issued new draft instructions for both Schedule K-2 and K-3 related to 2022 tax year compliance. These new instructions, which are an update to…
Alternative Fuel Excise Tax Credit: What is it and Who Qualifies?
The Safe, Accountable, Flexible, Efficient Transportation Equity Act (SAFETEA-LU) offers public transportation authorities that utilize compressed natural gas (CNG) the opportunity to claim an alternative fuel excise tax credit. Tax-exempt…
Pennsylvania Tax Update: Business Taxes Move to myPATH Platform
The Pennsylvania Department of Revenue (DOR) recently announced that all of the business taxes it administers will be transitioned to a new platform, myPATH. Affected taxpayers will receive information directly…
Too Good to Be True? Watch Out for False Employee Retention Tax Credit Promises
At the height of the COVID-19 pandemic, the U.S. government rolled out a number of initiatives to help struggling business owners. One of these was the Employee Retention Tax Credit…
State Tax Implications of Using Third-Party Fulfillment Services
Running a business is hard. Even before the current challenges of inflation and staffing shortages, management had a lot on its plate: procurement, production, research and development, marketing, payroll, accounting,…
