Tax and financial planning news from around the web: August 19 – 23, 2024

City and local sales taxes spike 

Under economic pressure, local governments across the country are raising sales tax rates or introducing new taxes. 

IRS reopens Voluntary Disclosure Program to help businesses with problematic Employee Retention Credit claims 

The IRS announced a limited reopening of the Voluntary Disclosure Program to help businesses fix incorrect Employee Retention Credit claims. The program will run through Nov. 22 and allow businesses a chance to correct improper payments at a 15% discount and avoid future audits, penalties and interest.