Tax Alerts

Revenue & Tax Proposals FY 2025

Tax Policy is a central issue during the current wavering economic conditions and the Presidential Race 2024. While the budget proposals would need sufficient support to be passed by Congress, it is a pivotal time for tax policy as the provisions of 2017 Tax Cuts and Jobs Act will expire after 2025...

Starting the new Tax Cycle

At ACCO, our objectives encompass providing customers with the most effective ways to achieve long-term company and personal goals. As we step into the new tax cycle, business owners and leaders will need a strategic mindset to embrace challenges and seize opportunities...

Corporate Transparency Affects Private Businesses in 2024

Many privately-held companies are required to report information to FinCEN about the individuals who ultimately own or control them. FinCEN began accepting reports on January 1, 2024...

New Minimum Wage Ordinance

Wages do not necessarily increase with inflation, however state, city and county laws may address specific industries and business locations. Please be advised of employment standards according to Federal, State, and local government laws...

Shohei Ohtani’s New Contract & Taxation

Shohei Ohtani's signing with the Los Angeles Dodgers on December 11, 2023, for 10 years and $700 million. It is the largest contract for any player among North American team sports. Today we outline some of the conditions and tax considerations for the deal...

ERC Tax Credit Update

Due to the 3-year statute of limitations for 941 amendments, the ERC is now pertinent as the 2020 and 2021 quarterly amendments are nearing the final due dates. ERC claimants may file ERC-VDP to repay and avoid penalties and interest. Meanwhile, business owner ERC-applicants are anxiously waiting for IRS processing...