by PKCPA | Published On Nov 4, 2020 | Price Kong Blog, Tax
On November 3, 2020, Arizona voters approved Proposition 208 (Prop 208), the Tax on Incomes Exceeding $250,000 for Teacher Salaries and Schools Initiative. Also referred to as the Invest in Arizona Act, Prop 208 provides for the imposition of a new income tax...
by Dawn Anderson | Published On Mar 28, 2020 | COVID-19, Price Kong Blog, Tax
President Trump signed into law the CARES Act (the “Act”), the $2 trillion stimulus package designed to stabilize the economy amid the COVID-19 pandemic. The groups that will most benefit are individuals, small businesses, big corporations, hospitals and public...
by Brian K Walker, CPA | Published On Mar 5, 2020 | Price Kong Blog, Tax
On February 19, 2020, the Internal Revenue Service (IRS) announced that it is stepping up efforts to collect on the $441 billion in outstanding taxes due by increasing face-to-face contact with taxpayers through home visits. The new program, made possible by a boost...
by Scott Albert Mitchem, CPA | Published On Nov 14, 2019 | Price Kong Blog, Tax
You may have gotten a Robo or Live telephone call warning you that the IRS has issued a warrant for your arrest. Most people are not falling for that scam anymore. They know that the IRS will not call you until they have sent you exhaustive correspondence.... by PKCPA | Published On Aug 15, 2019 | Price Kong Blog, Tax
At end of July, the Internal Revenue Service (IRS) issued a news release stating that it will be issuing letters to taxpayers that have potentially not reported their cryptocurrency activity for past years. This action falls in line with the IRS’s stance to start...
by PKCPA | Published On Jul 29, 2019 | Price Kong Blog, Tax
The Tax Cuts and Jobs Act (TCJA) enacted on December 22, 2017 has made significant changes to the deductibility of certain types of business meals and entertainment expenses. The Act eliminates, or significantly limits, taxpayers’ deductions for meal and entertainment...
