Underpayment penalties are a common concern for taxpayers, and many are unaware of how substantial they can be. These penalties are assessed by the Internal Revenue Service (IRS) when taxpayers fail to pay enough of their tax liability through withholding or estimated tax payments throughout the tax year.

As businesses expand their operations, understanding nonresidents' taxation and withholding requirements is crucial for both the nonresident and employer.

Employers, have you heard the latest issued by the DOL on how to legally differentiate independent contractors from actual employees?

In an ongoing effort to combat questionable Employee Retention Tax Credit (ERTC) claims, the IRS has sent more than 20,000 letters advising taxpayers that the agency is disallowing their claims.