2022 Highlights Child and Dependent Care Credit Child Tax Credit (CTC) and Additional Child Tax Credit Earned Income Credit (EIC) Standard mileage rate Charitable deductions Educator expenses Premium Tax Credit Year-end tax planning IRA deduction HSA deduction IRS hot items Foreign assets Digital assets Unreported income Federal and state differences Click Below to View the… Read More

September 2022 Highlights  Penalty Relief for 2019 and 2020 Tax Returns IRS Statement on Balance Due Notices (CP-14) More Options to Correct Returns Electronically IRS Encourages Tax Professionals to Inform Clients About Identity Protection PINs Mileage Log Must Be Contemporaneous Click Below to View the Newsletter: Volume 10 Issue 4… Read More

June 2022 Highlights  Standard Mileage Rate HSA Inflation Adjusted Amounts IRS Has Destroyed Millions of Paper Filed 1099s Taxpayers Can Now Track Refunds for Past Two Years More Options to Correct Returns Electronically Employer Leave-Based Donation Program Clothing Resembling Scrubs Deductible as Uniforms Click Below to View the Newsletter: Volume 10 Issue 3… Read More

April 2022 Highlights  Vehicle Depreciation Limits Crowdfunding Update Taxpayer Experience Office Election Required to Claim Itemized Deductions Mileage Log Book IRS Impersonation Scams Click Below to View the Newsletter: Volume 10 Issue 2  … Read More

January 2022 Highlights  Standard Mileage Rate Inflation Adjusted Amounts IRS Encourages eFile and Direct Deposit IRS Encourages Taxpayers to Get an Identity Protection PIN SALT Deduction Limitation is Constitutional FBAR Penalty is Per-Account, Not Per-Form Self-Directed IRA Click Below to View the Newsletter:  Volume 10 Issue 1… Read More

Download our brochure regarding the rules for required minimum distributions from your retirement accounts. Individual Retirement Accounts – Required Minimum Distributions 2021… Read More

September 2021 Highlights  Vehicle Depreciation Limits A Common Tax Protester Argument Self-Employed Deferred Social Security Taxes IRS Urges Taxpayers to Prepare for Natural Disasters Federally Declared Disaster Final Regulations No Surprises Act New Updates Address Feature on Child Tax Credit Portal SBA Announces Opening of Paycheck Protection Program Direct Forgiveness Portal Click Below to View… Read More

June 2021 Highlights  HSA Inflation Adjusted Amounts Advanced Payments of Child Tax Credit to Begin July 15 Dependent Care Benefits PPP Safe Harbor for Certain Expenses Paid Leave Tax Credit to Receive COVID-19 Vaccine Overpayment of 2020 Taxes Applied to 2021 Estimates Click Below to View the Newsletter: Volume 9 Issue 3… Read More

April 2021 Highlights  Additional Tax Deadlines Extended to May 17 IRS to Recalculate Taxes on Unemployment Benefits PPE Deductible as Medical Expenses Emergency Aid Granted to Students 100-percent Deduction for Business Meals PPP Extension Act of 2021 Employee Retention Credit Guidance for First and Second Quarters of 2021 Click Below to View the Newsletter: Volume… Read More

January 2021 Highlights  Standard Mileage Rate FinCEN Regulations on Virtual Currency Identity Protection PIN Opt-In Program Multi-State Taxation and COVID-19 Click Below to View the Newsletter: Volume 9 Issue 1… Read More