News and Events

When disaster strikes, from hurricanes to earthquakes, the first concern is, of course, the safety of you and your loved ones. However, safeguarding vital records and essential documents is also an imperative task in disaster planning. As highlighted by the IRS, these crucial documents include tax returns, birth certificates, social security cards, wills, and insurance […]

In a recent move to shield taxpayers from potential scams, the Internal Revenue Service (IRS) has announced an immediate suspension of new Employee Retention Credit claims processing. This decision comes in the wake of a surge in questionable claims and concerns raised by tax professionals. The IRS has identified aggressive marketing tactics targeting ineligible applicants, […]

If you are a taxpayer in the United States, it is crucial to keep up with the various deadlines set forth by the Internal Revenue Service (IRS). Missing a deadline can result in penalties and added stress. For those who need to make financial moves by Friday, September 15, 2023, here are the key IRS […]

We have important news for higher-earning individuals aged 50 and up who are diligently planning for retirement! The Internal Revenue Service (IRS) has deferred the implementation of a new requirement affecting contributions to 401(k) plans and similar retirement savings vehicles. The rule, passed by Congress last year required any catch-up contributions to be funded with […]

The Internal Revenue Service (IRS) has issued a timely reminder to all individuals and businesses that have registered, or are mandated to register, large trucks and buses with a taxable gross weight of 55,000 pounds or more. The IRS strongly encourages the e-filing of Form 2290, the Heavy Highway Vehicle Use Tax Return, by August […]

The Inflation Reduction Act (IRA) has introduced exciting opportunities for consumers looking to make eco-friendly vehicle choices. This act provides multiple incentives for those considering the purchase or lease of electric vehicles (EVs), plug-in hybrid vehicles, fuel cell vehicles, and even associated equipment like chargers. Not only are these vehicles more environmentally friendly, but they […]

While the economic landscape continually evolves, some features persist as they continue to offer vital support to businesses. One such feature is bonus depreciation – an appealing tax incentive that has played a significant role in facilitating business growth and investments in the U.S. Since its inception, bonus depreciation has undergone several modifications, and the […]

As a homeowner, it is essential to be aware of the various tax deductions, programs, and housing allowances in which you may be eligible. These can significantly reduce your tax burden and make homeownership more affordable. The Internal Revenue Service (IRS) encourages all homeowners to review these house-related deductions and programs, particularly during the summer […]

In a significant policy shift, the Internal Revenue Service (IRS) has announced that it will cease most unannounced visits to taxpayers by agency revenue officers. This decision, effective immediately, is part of a broader transformation effort aimed at reducing public confusion and enhancing safety measures for both taxpayers and IRS employees. Instead of unannounced visits, […]