Article Highlights: Filing due date Balance due payments Contributions to a Roth or traditional IRA Individual refund claims for tax year 2022 Filing extension Foreign Bank and Financial Accounts Report (FBAR) Estimated tax payments for the first quarter of 2026 Just a reminder to those who have not yet filed their 2025 federal tax return […]
April 2026 Individual Due Dates April 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during March, you are required to report them to your employer no later than April 10. You can use IRS Form 4070 or your own statement that […]
Most homeowners groan when they see their annual property tax bill, especially the school portion, which often makes up the largest share. In many cities and towns across the U.S., school taxes are the single biggest line item on your tax bill. But what if your school tax was $0? It sounds like a fringe […]
Article Highlights: Employees Self-Employed Individuals Periodic Payments Underpayment Penalty Safe Harbor Payments Unlike employees, who have income, Social Security, and Medicare taxes withheld from their wages, self-employed individuals must prepay their taxes by making periodic estimated tax payments. These are referred to as estimated tax payments because the self-employed individual must estimate his or her […]
Article Highlights 24/7 Access Quick Posting Direct Deposit Necessary Information As you are no doubt aware, the IRS has made a significant shift in its approach to issuing tax refunds by discontinuing the practice of sending refunds via paper checks. This change is part of an ongoing effort to enhance efficiency and security in processing […]
Article Highlights: The “Mailbox Rule” Has Changed The New 2025 USPS Postmark Rule How to Secure Proof of Mailing Obtaining a Manual Postmark (Hand-Cancel) Best Practices for Time-Sensitive Mailings For decades, taxpayers have relied on a simple principle known as the “Mailbox Rule.” Formally enshrined in Internal Revenue Code Section 7502, this rule states that “timely […]
Article Highlights: Taxpayer Eligibility and Deduction Limits Personal Use Requirement Deduction on Mixed-Use Vehicles Types of Eligible Expenses Qualified Vehicles What Interest Qualifies Lender Reporting Requirements The IRS has introduced proposed regulations that outline the eligibility criteria for deductions on interest paid on loans for qualified passenger vehicles intended for personal use. This deduction, under […]
Article Highlights: Modified Adjusted Gross Income (MAGI) Senior Deduction Enhancements Tax Relief for Tips and Overtime Earnings Vehicle Loan Interest Deduction Adoption and Child Tax Credits SALT Deduction Limit 2025-2029 Reduction in Environmental Incentives Super Retirement Catch-Up Contributions Expanded Use of Educational Funds Trump Account Election Business Tax Changes Qualified Small Business Stock Third Party […]
Article Highlights: New Charitable Giving for Non-Itemizers New AGI Floor for Itemizers Cash Contribution AGI Limitation Made Permanent Phaseout of Itemized Deductions Strategic Charitable Giving in 2026 Charitable Giving Documentation: What You Need to Know in 2026 Documentation for Cash Contributions Documentation for Non-Cash Contributions Common Pitfalls to Avoid As the landscape of charitable giving […]
March 2026 Individual Due Dates March 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during February, you are required to report them to your employer on IRS Form 4070 no later than March 10. You can use IRS Form 4070 or […]