News and Events

The halfway point of the year is a great time to take a step back and evaluate how your business is performing. A mid-year financial review can help you identify opportunities, address potential issues, and make informed decisions before year-end. Consider reviewing the following: Even small adjustments made now can help you avoid surprises later […]

If your business sponsors an employee retirement plan, such as a 401(k), now is the time to prepare for an important filing deadline. For most calendar-year retirement plans, Form 5500 is due July 31, 2026. This annual return provides information about your retirement plan to the U.S. Department of Labor and the IRS. Filing on […]

On the go? Listen to the audio version of this article. Businesses that paid certain duties imposed under the International Emergency Economic Powers Act (IEEPA) may be eligible to seek refunds through U.S. Customs and Border Protection’s (CBP) Consolidated Administration and Processing of Entries (CAPE) process in the ACE Secure Data Portal. CBP has stated […]

On the go? Listen to the audio version of this article. Many taxpayers are receiving IRS notices (CP53E) regarding refunds even though their 2025 tax return showed a balance due. This has caused confusion for taxpayers and tax professionals across the country, and reports indicate that many of these notices may have been issued in […]

Opening your mailbox to find a letter from the IRS can feel stressful, but in many cases, there is no need to panic. IRS notices are often sent to request additional information, explain changes made to a tax return, or notify taxpayers about balances due or refund adjustments. If you do receive an IRS notice, […]

Intuit will discontinue support for QuickBooks Desktop 2023 software after May 31, 2026. After this date, the following services and features will no longer be available: To avoid interruptions in service, please verify that you are using QuickBooks Desktop 2024 or a newer supported version. If you are currently using QuickBooks 2023 or an earlier […]

Beginning January 1, 2026, new rules under the SECURE 2.0 Act will change how certain retirement plan participants make age 50 and older catch-up contributions. Employees age 50 and older may contribute additional amounts to their retirement plan beyond the standard annual IRS limit. For 2026, individuals age 50 or older may contribute an additional […]

The North Carolina Department of Revenue has issued a notice about recent changes at the United States Postal Service (USPS) that may affect the postmark date on mailed tax documents and payments. Under current USPS processing practices, the postmark may reflect the date the mail is processed at a postal facility, not necessarily the date it […]

The filing deadline for calendar-year S Corporations and Partnerships is March 15. This deadline applies to: Even if the business does not owe income tax, these returns must be filed on time. Both S Corporations and Partnerships are pass-through entities, which means income, deductions, and credits flow through to the owners. However, the entity itself […]

Each year, many North Carolina corporations, limited liability companies (LLCs), and limited liability partnerships are required to file an Annual Report with the North Carolina Secretary of State. Please note: Martin Starnes & Associates, CPAs, P.A. does not prepare or file North Carolina Annual Reports. These reports must be filed directly with the Secretary of […]