News

Hey Louisiana – have you heard?  After stating that the State will need tax reform in order to avoid a $1 billion deficit over the next 4 years, Governor Jeff Landry has just announced a series of tax reform proposals at the State Capitol on Tuesday, October 1, 2024.

Our September 2024 Resolution Results are IN, and we saved our Clients over half a million dollars this month! 

So, you messed up when preparing your income tax return.  Maybe you did not include all your income, or perhaps you overstated your deductions.  Whatever it is, you’re stressed about the potential for issues with the IRS and are ready to resolve it – so, what do you do?

An announcement was made by the IRS – they’re teaming up with State Tax Agencies and the tax community to combat the increase of scams threatening Taxpayers and tax systems seen this tax season, exploiting vulnerable Taxpayers. 

The IRS has finally begun to respond to the multitude of IRS Employee Retention Credit claims submitted over the last several months. 

The Louisiana Department of Revenue has announced that there are plans to amend Louisiana Administrative Code provision 61.I.4919 regarding Installment Agreements for outstanding taxes owed. 

As previously discussed here on the Bryson Blog, the IRS Employee Retention Credit has been subjected to a multitude of scrutiny and changes over the last several months in response to the suspected misuse of this tax credit.  The IRS has been working to analyze data on pending ERC claims for the last several months. 

The IRS Taxpayer Advocate Service recently performed a study on refundable tax credits that the IRS has denied by-way of the authorization they’ve been given by Congress to ban certain Taxpayers from claiming credits for two (2) years if the Taxpayer claimed the credit due to reckless or intentional disregard of the rules and regulations, as determined by the IRS. 

With only a few days left until the first “official” day of Summer, many have those summer vacations in mind – “when can we find time to take a trip?”  “Where should we go?”!

Busy Taxpayers who already have business travel plans set for the Summer may decide to turn a business trip into a family vacation this summer.  So, let’s dive into the question, “what expenses on a business trip-turned-family vacation can I deduct on my taxes?”