Insights

The IRS’s Large Business & International Division is focused on putting a stop to multinational corporations that use non-arm’s length transfer pricing to lower their tax bill by illegally shifting profits to tax jurisdictions with relatively lower tax rates.

The IRS Dishonored Check or Other Form of Payment Penalty applies if you don’t have enough money in your bank account to cover the payment you made for the tax you owe. Learn more.

The Inflation Reduction Act of 2022 (IRA), signed into law last August, included a wide variety of tax incentives for clean energy. Learn more.

Business owners need a well-planned exit strategy to get the most out of their company. Learn more.

The IRS recently warned employers to be wary of third parties advising them to claim the Employee Retention Credit when they may not qualify. Learn more.

In February 2023, the DOJ reported its annual False Claims Act statistics for recoveries resulting from civil settlements and judgments in FY22. Learn more.

Section 174 changes take effect in the first tax year after December 31, 2021, beginning with the midpoint of the taxable year in which the expenses are paid or incurred. Learn more.

In the Southeast Middle-Market M&A Newsletter for Q4 2022, Bennett Thrasher’s Transaction Advisory Services leaders provide data and highlights for Southeast (Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, South Carolina and Tennessee) middle-market (total transaction value < $USD 500mm) M&A transactions, including volume, value and enterprise value multiples.

The Internal Revenue Service (IRS) considers information return penalties an important tool to collect, at the least cost, the proper amount of tax revenue. Penalties help the IRS achieve this goal because the threat of a penalty generally enhances voluntary compliance.

On November 30, 2022, the IRS issued Notice 2022-61, providing guidance on the prevailing wage and apprenticeship requirements that apply to Section 179D and Section 45L, as amended by the Inflation Reduction Act of 2022.