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Archive by Month: October 2022

These Are the Inflation-Adjusted Tax Brackets and Income Deductions for 2023

Posted in Offshore Account Update on October 31, 2022

On October 18, 2022, the Internal Revenue Service (IRS) announced its tax inflation adjustments for the 2023 tax year. Several key numbers are increasing as a result of U.S. inflation, and this means that taxpayers will need to prepare their tax returns carefully to ensure that they receive the benefits of these increased figures. Read More

Report: Approximately 1.4 Million PPP Loans May Be Ineligible for Forgiveness

Posted in Offshore Account Update on October 17, 2022

While the Paycheck Protection Program (PPP) served as a financial lifeline for many businesses at the height of the COVID-19 pandemic, it is now well-known that the program was also a prime target for fraud. While the U.S. Small Business Administration (SBA) has previously estimated that lenders issued as many as 70,000 fraudulent loans under the program, a recent report suggests that the real number could be as high as 1.4 million. Read More

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