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Accounting & Auditing

The Five New Red Flags in Employee Retention Credit Claims

The Internal Revenue Service (IRS) has recently issued a statement warning businesses about the common mistakes made when claiming the Employee Retention Credit (ERC). Unqualified claims are often due to misinformation from aggressive promoters, leading to a rise in ineligible applicants.

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Financial Tid-Bits

Tax implications of legal gambling

With the rise of legal sports betting and online gambling, it’s crucial to understand the IRS reporting requirements associated with your winnings. Discover the thresholds for different types of gambling and how to report your earnings accurately. Learn how to avoid potential penalties and comply with IRS regulations.

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