by Heimlantz | Jul 7, 2022 | Professional Firms
This article explains that bonus depreciation rules have been changed over several years. In 2016 and 2017, under the IRS Revenue Proclamation (Rev. Proc.) 2019-33, Section 5.02 Section – Deemed Election states: “a taxpayer that timely filed its federal tax...
by Heimlantz | Jun 24, 2022 | Professional Firms
This article explains that the Biden Administration has proposed a federal gas tax holiday in order to help US citizens with the current gasoline prices. Unfortunately, Patrick De Haan, head of petroleum analysis at GasBuddy, said “if a gas tax holiday coincides...
by Heimlantz | Jun 24, 2022 | Blog
New regulations regarding financial reporting for American businesses operating both domestically and overseas will soon go into effect. In 2021, Congress passed the Corporate Transparency Act (CTA), which is a piece of legislation aimed at monitoring potential money...
by Heimlantz | Jun 17, 2022 | News
In an effort to provide our employees with a much deserved break, the HeimLantz offices will be closed July 1 – 5 to allow our valued team some rest and relaxation. We will return to work energized and ready to go on Wednesday, July 6. If possible, please reach out to...
by Heimlantz | Jun 16, 2022 | Professional Firms
This article explains some tax-avoiding strategies that the IRS will be flagging down. Some strategies include “concealing assets in offshore accounts and improper reporting of digital assets, non-filing of income tax returns by high-income individuals, abusive...
