#compliance
Compliance
Navigate regulatory compliance and maintain audit-ready financial records
FLSA Exempt vs. Non-Exempt in 2026: The $684 Salary Floor and the Three-Part Test
After the 2024 overtime rule was vacated, the FLSA white-collar salary threshold remains $684 per week ($35,568 per year) in 2026. This guide walks employers through the salary basis, salary level, and duties tests, the safe harbor under 29 CFR 541.603(d), state thresholds that override the federal floor, and the financial exposure of misclassification.
Form 2290 and the HVUT: How Trucking Operators File Heavy Highway Vehicle Use Tax Before the August 31 Deadline
Form 2290 funds federal highway maintenance through an annual excise tax on vehicles with a taxable gross weight of 55,000 pounds or more. Owner-operators and fleets owe up to $550 per truck and must file by August 31 — late filings trigger a 4.5% monthly penalty and DMV registration suspension.
Form 5329 and the Missed RMD: How SECURE 2.0's 25%/10% Penalty Rules Work
SECURE 2.0 cut the missed-RMD excise tax from 50% to 25%, and to just 10% if the shortfall is corrected within a two-year window. Form 5329 is how taxpayers claim the reduced rate or request a full reasonable-cause waiver, and the form also starts the IRS's three-year limitations clock.
Form 8027: How Restaurants Apply the 8% Tip Allocation Rule and Avoid W-2 Box 8 Surprises
Form 8027 requires large food and beverage establishments to reconcile gross receipts against employee-reported tips and allocate any shortfall below 8% to directly tipped employees on W-2 Box 8. This guide covers the 10-employee filing test, the three approved allocation methods, the tip-versus-service-charge distinction, and the reconciliation discipline that keeps Box 8 empty.
Form 8867 Paid Preparer Due Diligence in 2026: Avoiding $650-Per-Credit Penalties on EITC, CTC, AOTC, and HOH Returns
Form 8867 due diligence carries a $650 penalty per credit in 2026 — up to $2,600 per return — plus EFIN, PTIN, and OPR risk. A practical breakdown of the four IRC §6695-2 duties, the red flags IRS examiners hunt for, and the file structure that survives a 25-return due diligence visit.
Form 941-X Explained: How Employers Correct Payroll Tax Errors, Recover Overpayments, and Stay Inside the Three-Year Statute of Limitations
A practical walkthrough of Form 941-X — when to use the adjustment process versus the claim process, the three-year (or two-year) statute of limitations, the stricter rules for federal income tax withholding, and what to put on Line 43 so the correction holds up under IRS review.
Form W-2c and W-3c: How to Correct a W-2 Without Triggering Penalty Cliffs
Form W-2c fixes errors on previously filed W-2s, but the penalty structure stacks behind the original February 2 due date — $60, $130, $340, or $680 per form depending on how late you file. A practical guide to W-2c and W-3c filing, the 10-return e-file threshold, SSA mismatch letters, and reconciling with Form 941-X.
Form I-9 and E-Verify Compliance: ICE's March 2026 Fact Sheet and the New Penalty Math
ICE's March 16, 2026 fact sheet reclassifies common Form I-9 errors as substantive violations with no cure period. Paperwork penalties now run $288 to $2,861 per form, and a 500-employee company with a 40% error rate faces six-figure exposure. This guide covers the timing rules, retention windows, E-Verify mandates in eleven states, the alternative procedure for remote verification, and how to run a defensive self-audit.
Low-Income Housing Tax Credit (LIHTC) Section 42: How Developers Use 9% and 4% Credits to Finance Affordable Housing Projects
A 2026 LIHTC field guide for developers — how the 9% and 4% credits differ, how qualified basis and the 70%/30% present-value subsidies are calculated, the three overlapping compliance clocks, the IRS forms (8609, 8609-A, 8586, 8611), syndication mechanics, and the One Big Beautiful Bill Act changes that cut the bond financing test from 50% to 25%.
New Markets Tax Credit (NMTC): How CDEs, Investors, and Local Businesses Stack a 39% Federal Credit Over Seven Years
A practical walkthrough of the New Markets Tax Credit — how the 39% federal credit flows from a CDE to investors and projects over seven years, who plays which role, what continuous compliance requires, and where deals most often break.
Schedule UTP: How Corporations Disclose Uncertain Tax Positions Without Handing the IRS a Roadmap
Schedule UTP requires corporations with $10M+ in assets and an ASC 740-10 reserve to disclose uncertain tax positions on Form 1120. This guide covers who must file, how to rank major tax positions, what the concise description must include, the columns added for tax year 2022, and the drafting mistakes that trigger IRS Letter 5191.
Section 4501 Stock Buyback Excise Tax in 2026: Computing the 1% Tax, Netting Issuances, and Filing Form 7208
How publicly traded U.S. corporations compute the 1% Section 4501 stock buyback excise tax in 2026, apply the netting rule, claim statutory exceptions, and file Form 7208 — including what the November 2025 final regulations changed and where Form 720-X refund opportunities apply.