May 2023 Highlights Clean Vehicle Credits Fact Sheet List of Manufacturers of Qualified Clean Vehicles IRS Extends Lookback Period for Refund Claims Accountable Plan or Unreimbursed Business Expenses New Industry Tip Reporting Program FBAR Penalty Click Below to View the Newsletter: Volume 11 Issue 2… Read More
January 2023 Highlights Standard Mileage Rate Inflation Adjusted Amounts Delay for $600 Reporting Threshold for 1099-Ks IRS Completes Automatic Corrections for Excluded Unemployment Compensation New Tax Gap Estimates Click Below to View the Newsletter: Volume 11 Issue 1… Read More
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