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Due to a Delay in Releasing the Form 1099-K, Reporting Generally Isn't Required Until a Certain Threshold Has Been Met for 2023.

February 15, 2024

The IRS recently issued a fact sheet containing updated and revised FAQs that provide general information for taxpayers and more clarity about which organizations should send Forms 1099-K.

Filing Jointly or Separately as a Married Couple: What’s the Difference?

February 13, 2024

Is it better for a married couple to file a joint tax return or file separately? It depends. Here’s a look at the issue.

Update on IRS Efforts to Combat Questionable Employee Retention Tax Credit Claims

February 8, 2024

Aggressive marketing encouraging businesses to claim the pandemic-related Employee Retention Tax Credit led to many taxpayers erroneously receiving refunds. The IRS has a program that allows them to come forward and repay part of the money before collection efforts begin.

If You Gave to Charity in 2023, Check to See That You Have Substantiation

February 6, 2024

Did you make a charitable gift last year and are hoping for a tax break when you file your return? Here are the donation rules to secure a deduction.

Are You Properly Accounting for Your “Digital Asset-Related” Income?

February 1, 2024

The IRS is reminding taxpayers that they must answer a digital asset question and report all digital asset-related income when they file their 2023 income tax returns.

2024 Tax Calendar

January 30, 2024

To help you make sure you don’t miss any important 2024 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due.

There’s a New Threshold for Electronically Filing Information Returns

January 25, 2024

Does your business file 10 or more information returns with the IRS? If so, you must now file them electronically. This is a significant rule change that went into effect on January 1, 2024, for 2023 tax year information returns.

Answers to Your Tax Season Questions

January 23, 2024

When will my 1099 forms arrive and when is the best time to file my tax return? Here’s the answer to these and other tax season questions you may have.

Does Your Business Have Employees Who Get Tips? You May Qualify for a Tax Credit

January 18, 2024

If you’re a restaurant owner with employees receiving tips, you may qualify for a lucrative tax break.

The Kiddie Tax Could Affect Your Children Until They’re Young Adults

January 16, 2024

Do you consider 21 or 22-year-olds to be kids? For purposes of the “kiddie tax,” they might be. Here are the rules.

The IRS Announced That it Will Propose Regulations to Implement the Product Identification Number (PIN) Requirement with Respect to the Energy Efficient Home Improvement Credit.

January 11, 2024

Beginning Jan. 1, 2023, the credit (subject to certain limits and caps) is equal to 30% of the total amount paid for certain qualified expenses.

Defer a Current Tax Bill with a Like-kind Exchange

January 9, 2024

The real estate market has been tough recently. But there are still large profits being made on some business property. In these cases, a “like-kind” exchange may be attractive when selling commercial or investment real estate.

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