To help encourage more people to save for retirement, the SECURE 2.0 Act requires employers with newly established 401(k) and 403(b) plans to enroll workers automatically, starting in 2025. Recently proposed IRS regulations stipulate...

Read more

Mark your calendars! Jan. 27 is the kickoff to the 2025 tax season. That’s the date the IRS will begin accepting income tax returns. The IRS expects more than 140 million individual tax returns...

Read more

What does it mean if you receive a CP24 notice from the IRS? Don’t panic. It’s probably not bad news. The IRS sends this notice when the amount of tax paid on a taxpayer’s...

Read more

If you make estimated tax payments and it looks like you’ve underpaid your 2024 tax, be sure to send your final 2024 payment by Wednesday, Jan. 15, 2025. Include all taxable income in your...

Read more

Do you possess digital assets, such as convertible virtual currencies and cryptocurrencies, stablecoins or non-fungible tokens (NFTs)? If so, you must report any digital asset-related income on your 2024 federal income tax return. According...

Read more

Are you buying a home with someone you aren’t married to? If so, the IRS says that you may each be entitled to deduct the portion of the mortgage interest and real property tax...

Read more

It’s important for taxpayers who didn’t pay enough tax during 2024 to help avoid penalties by making a fourth quarter estimated tax payment by Jan. 15, 2025. Those who may need to make estimated...

Read more

The IRS has issued the 2025 cents-per-mile rates that can be used to calculate tax-deductible vehicle operating costs. Effective Jan. 1, 2025, the standard mileage rate for the business use of a car, van,...

Read more

Did you or someone you know get married in 2024? The IRS has provided a checklist to help newlyweds avoid mistakes that could cost them at tax time. How you file depends on your...

Read more

There has been yet another court decision surrounding the Corporate Transparency Act ("CTA") and its impending deadlines. Just a few days ago, we sent you communication regarding the Financial Crimes Enforcement Network's ("FinCEN") January 13,...

Read more