Insights & Resources

Avoiding ERC Scams begins with understanding the partial shut-down safe harbor and other complexities within ERC qualifications.

Many third-party promoters of the Employee Retention Credit (ERC) ignore a crucial qualifier within the partial shut-down safe harbor: The “more than nominal” test.

Employee Retention Credit (ERC) scams attempt to lure businesses into applying for the ERC when they do not qualify, even under its expanded eligibility.

According to the ruling, the fair value of staking rewards should be recognized as taxable income as of the date and time the taxpayer gains dominion and control.

The law, which takes effect Sept. 1, 2023, offers greater clarity for Bitcoin mining companies that use stranded and flared natural gas to power their operations.

Texas businesses (travel, tourism & hospitality) impacted during the pandemic can still claim a one-time grant under the Texas Travel Industry Recovery Grant Program.

Recent cryptocurrency exchange failures were not caused by technological issues, but by a lack of structure in corporate governance and internal controls.

The demand for guidance on how firms should manage digital assets for accounting purposes continues to grow in tandem with the use and acceptance of crypto assets.

To improve tax compliance, the U.S. Treasury Department proposed four changes to "modernize" the corporate and individual reporting of digital assets.

Senators Kirsten Gillibrand and Cynthia Lummis proposed the Responsible Financial Innovation Act to create a comprehensive regulatory framework for digital assets.

The growing popularity of virtual currencies and their potential to facilitate tax evasion has prompted the Internal Revenue Service (IRS) and Congress to impose additional reporting requirements on taxpayers who hold or use virtual currencies.