Newsletters
Tax Alerts
Tax Briefing(s)
Your privacy is a primary concern to us at Ralph Maya & Company, CPAs. Our goal in expanding and clarifying our policy on the collection and use of client data is to ensure the highest level of confidentiality and security. This policy is a company-wide policy, not limited to our website. When you provide your personal information to Ralph Maya & Company, CPAs (such as your name, address, phone number, company name, or Federal Identification Number), we will not give or sell your individual information to any outside company for its use in marketing or solicitation without your consent. We will maintain the confidentiality of your personal information and it will be used only to support your client relationship with Ralph Maya & Company, CPAs. Additionally, internal practices help protect your privacy by limiting employee access to and use of customer data. When we ask for client information, we achieve our goal of improving the relationship with our clients. At Ralph Maya & Company, CPAs, we are helping you maintain control over your personal data while fostering the growth of a more interactive online environment. Our intention is to send e-mails only to clients or to individuals you, as clients, have chosen to receive such emails. At any time, you have the right to "opt out" of receiving future Ralph Maya & Company, CPAs' communications.

Following what was described as a successful launch of beneficial ownership information reporting requirements, officials from the Department of the Treasury found themselves before the House Financial Services Committee defending the regulations.


The IRS has issued a warning to small businesses regarding potential issues with Employee Retention Credit (ERC) claims as the March 22, 2024 deadline for the ERC Voluntary Disclosure Program approaches. Seven suspicious warning signs have been identified based on feedback from tax professionals and compliance personnel. These signs may indicate erroneous claims and could lead to IRS scrutiny. 


The IRS has issued the luxury car depreciation limits for business vehicles placed in service in 2024 and the lease inclusion amounts for business vehicles first leased in 2024.


The Internal Revenue Service has reviewed, redesigned and deployed 31 notices for the 2024 tax filing season in an effort to simplify the notices and improve their clarity.

This is a part of a broader effort to simplify up to 90 percent of the notices the agency sends out to taxpayers on an annual basis.


The IRS, with its Criminal Investigation (CI) arm, has urged businesses to review eligibility for the Employee Retention Credit (ERC). To combat fraud, they intensified compliance efforts related to this pandemic-era credit. Businesses wrongly claiming the ERC are advised to consider applying for the Voluntary Disclosure Program before the March 22 deadline. A special withdrawal program is also available for those with eligibility concerns on pending claims. 


The Financial Crimes Enforcement Network (FinCEN) has published a Small Entity Compliance Guide (Guide) to provide an overview of the Beneficial Ownership Information Access and Safeguards Rule (Access Rule) requirements for small entities that obtain beneficial ownership information (BOI) from FinCEN. 


The Department of the Treasury and the Internal Revenue Service have released new analysis that shows the additional funding provided to the IRS under the Inflation Reduction Act can increase revenues by"as much as" $561 billion.


The American Institute of CPAs offered a series of guidance recommendations to the Department of the Treasury and the Internal Revenue Service to help provide clarity on a notice issued by the IRS on changes to the regulation for Roth IRA catch-up contributions made by SECURE 2.0.


As part of the ongoing efforts to improve tax compliance in high income categories, the IRS will begin dozens of audits on business aircraft involving personal use. 


No, taxpayers may destroy the original hardcopy of books and records and the original computerized records detailing the expenses of a business if they use an electronic storage system.