News - John R. Dundon II, Enrolled Agent
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COLORADO EMPLOYERS FACE PAID SICK LEAVE OBLIGATIONS FOR 2022 If you are a Colorado job creating employer brace yourself for another obligation. Hopefully that first payroll of 2022 has not been run yet! Here’s the detail in 600 words – a 3 minute read and worth every...

Colorado tax law update 2022 starts with the recently enacted 3 new tax laws containing multiple corporate and individual income tax changes. H.B. 21-1311- Income Tax H.B. 21-1327 – State & Local Tax Parity Act for Business H.B. 20-1420 - Adjust Tax Expenditures For State...

Forgiveness of Paycheck Protection Program (PPP) Loans Reporting – Rev. Proc 2021-48. Under IRS Rev. Proc. 2021-48, Section 3.01, taxpayers are permitted to treat tax-exempt income resulting from the forgiveness of a PPP loan as received or accrued: as, and to the extent that, eligible expenses...

Medicaid Waivers and IRC 131 The intent of this article is to address the extent to which private for profit and non-profit agencies that place individuals in need of foster care in foster homes as well as parents of disabled children may have certain tax reporting...

Partnerships and Income Tax - Staring into the Abyss of IRS Form 1065 and its accompanying regulations is a challenge, not for the faint of heart. The first question I always ask partners in on-going partnerships looking for bookkeeping, accounting, payroll and tax prep services is ...

IRS Commissioner calls CRISIS!  Rettig's editorial in the Washington Post as released by the US Treasury is as remarkably bold as the man himself. He is calling CRISIS!  This is BIG and must be repeated.  The IRS Commissioner is CALLING CRISIS! Messaging from a Trump appointed 'republican' via a 'liberal rag'...

Harrison Smith and Justin Abold-LaBreche are improving IRS communication efforts.  As Co-Directors of the IRS Enterprise Digitalization and Case Management Office with experience across multiple IRS offices, they spearhead efforts to modernize systems, simplify business processes, and empower employees to rapidly resolve issues in simplified...

The Tax Fairness for Coloradans package – is coal dead in Colorado? This is one of many questions arising out of HB21-1311 (Income Tax) and HB21-1312 (Insurance Premium Property Sales Severance Tax), combined legislation that expanded tax credits for working families and small businesses but hurt the coal...

Colorado Sales Tax Nexus & Destination Sourcing Rules The Colorado General Assembly adopted SB21-282, which extends the small business exception to destination sourcing requirements. This exception applies only to businesses with less than $100,000 in retail sales. As of February, 1st 2022 however, all retailers must apply the destination sourcing...

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