IRS Regulations Provide Guidance for New Voluntary Certification Program; Application Process for Professional Employer Organizations Opens July 1

WASHINGTON — The Internal Revenue Service released temporary and proposed regulations implementing a new voluntary certification program for professional employer organizations (PEOs). The regulations, available today in the Federal Register, carry out legislation...

For Small Businesses: IRS Raises Tangible Property Expensing Threshold to $2,500; Simplifies Filing and Recordkeeping

WASHINGTON —The Internal Revenue Service [on Nov. 24] simplified the paperwork and recordkeeping requirements for small businesses by raising from $500 to $2,500 the safe harbor threshold for deducting certain capital items. The change affects businesses that do not...