Oganyan & Associates, Inc.

New Bill aims to rewrite tax code.

House GOP Bill Aims to Abolish the IRS and Rewrite the Tax Code The stability of the IRS faces yet another challenge as the U.S. presidency changes hands.

Here is some relief from federal government.

IRS: California wildfire victims qualify for tax relief; various deadlines postponed to Oct. 15 | Internal Revenue Service IR-2025-10, Jan. 10, 2025 — The Internal Revenue Service announced today tax relief for individuals and businesses in southern California affected by wildfires and straight-line winds that began on Jan. 7, 2025.

This is for the people that claimed ERC for their business.

IRS rejects more than 20,000 refund claims for pandemic-related tax credit The IRS is sending more than 20,000 rejection letters to taxpayers who wrongly claimed the employee retention tax credit. Here's what filers need to know.

To my attorney clients.

This IRS Form 1099 Is Not Counted As ‘Income’ By IRS Lawyers, it turns out, are singled out in several ways with IRS Forms 1099. They receive these tax forms for most payments, but they get a special type of 1099 that is not counted as income, and that is a good deal. But they also have to send many 1099s.

Tax deadline extended to May 17th

Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline | Internal Revenue Service IR-2021-59, March 17, 2021 — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021.

What includes in $1.9T stimulus.

What’s in the $1.9T stimulus bill Biden is about to sign The legislation includes a massive, one-year expansion to the child tax credit program aimed at curbing child poverty, a change Democrats are already seeking to make permanent.

Employee Retention Credit for business owners.

IRS issues employee retention credit guidance The IRS issued guidance on the employee retention credit in effect for qualified wages paid after March 12, 2020, through Dec. 31, 2020, including how it interacts with Paycheck Protection Program loans.

Here is some details of the latest stimulus check.

Second stimulus check: Who won't be getting a $600 check? The second stimulus check could soon reach people's bank accounts, but some won't qualify for the payments.

IRS plans to audit more small businesses.

IRS Plans a 50% Ramp-Up in Audits of Small Businesses Next Year Photographer: Bloomberg/Bloomberg Business IRS Plans a 50% Ramp-Up in Audits of Small Businesses Next Year By Laura Davison November 17, 2020, 1:20 PM EST 2:25 IRS Plans a 50% Ramp-Up in Audits of Small Businesses Next Year By Laura Davison , November 17, 2020, 1:20 PM EST IRS starts at low base; ra...

For business owners that received PPP loan.

IRS doubles down on nondeductibility of PPP-funded expenses The IRS issued guidance for taxpayers who pay otherwise deductible expenses with PPP loan funds, stating that even if the payment and PPP loan forgiveness happen in different tax years, the expenses are not deductible.

Hopefully AB5 will exempt Ride-sharing industry as well soon. Let’s Vote Yes on Prop 22.

Sacramento politicians move to exempt over 100 professions from AB 5 while ignoring hundreds of thousands of app-based drivers - Save App-Based Jobs & Services SACRAMENTO - As the California State Legislature moves to exempt another 50+ professions and occupations from AB 5, bringing the total number of vocations exempted to over 100, app-based drivers demand answers from the bill’s author and supporters on why a law they oppose by a 4:1 margin is only b...