Industry News 

News, thought leadership, and innovative ideas for the future.

With the constant swirl of changes in the business world, government regulation, and complexities of operations, it’s hard to stay on top of what most impacts your organization. Walz Group strives to provide you with news and information that is timely and relevant to you.

Most Recent Industry News

Spring Cleaning Your Personal Tax Files

The general rule for retaining federal tax records is three years. However, there are many exceptions to this rule so it helps to keep records longer.

How Tax Reform Affects Divorce Settlements for Small Business Owners

Changes in the new Tax Cuts and Jobs Act (TCJA) may require divorcing individuals to take a different approach to splitting assets and setting maintenance payments than under prior law.

Due Diligence Considerations When Selling a Business

When selling your business, all parties involved in the sale will require certain due diligence procedures, which take time and patience to get through.

Is It Time for Your Start-Up to Consider a Pivot Strategy?

Many existing businesses pivoted from their regular operations into a different enterprise during the COVID-19 pandemic - with many emerging in better shape.

Using a Noncompete Agreement When Buying a Business

Noncompete agreements are commonly included in business purchase transactions to prevent the seller from competing against the buyer for the term of the noncompete agreement.

Self-Insured Plans: Nondiscrimination Rules and COVID-19 Expenses

A Q&A on nondiscrimination rules and COVID-19 Expenses for self-insured health benefit plans.

US Small Business Administration Extends Deferment On EIDL Program Payments

Key information regarding deferment...

Update: IRS Updates Standard Mileage Rates for 2022

The US Internal Revenue Service (IRS) recently revealed the updated standard mileage rates for 2022.

4 Big Charitable Tax Breaks for 2021

Are you feeling generous? Qualified charitable contributions can be rewarded with sizeable tax breaks during the second calendar year of the COVID-19 pandemic. Recent legislation includes the...

IRS offers guidance on American Rescue Plan tax credits

The Internal Revenue Service is providing information about the child and dependent care credit and the paid sick and family leave credit, which were expanded under the American Rescue Plan.

IRS ups tax credit amounts for inflation after American Rescue Plan

The Internal Revenue Service is increasing the inflation-adjusted amounts of the Child Tax Credit and Earned Income Tax Credit for this year in accordance with the latest coronavirus relief package.

IRS offers penalty relief on employment tax payments amid COVID-19

The Internal Revenue Service is providing penalty relief for an employer’s failure to deposit employment taxes with the IRS on a timely basis.

IRS and COVID vaccine email scams proliferating this tax season

Security experts are seeing a rise this tax season in phishing schemes and malware tied to hot-button subjects like tax refunds, stimulus payments and COVID-19 vaccines.

An Important Reminder Regarding ERC Qualification and your Business’s Q1 2021 Form 941

As a reminder to Walz Group clients and friends, small business owners may be eligible for the Employee Retention Credit (ERC) for the Q1 2021 if your Q4 2020 revenue was at least 20% lower than...

PPP Funds Not Taxable in PA!

On Friday, February 5, 2021, the Pennsylvania House and Senate unanimously passed a COVID-19 Relief Bill that allocates Pennsylvania’s share of $912 million in Federal funding.

Did you get $$$ from HHS Healthcare Provider Relief Funds?

Through the CARES Act and the Paycheck Protection Program and Health Care Enhancement Act (PPPCHE), the federal government has allocated $175 billion in payments to be distributed through the...

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