If You Owe the IRS Money, Here’s What You Should Know About the Statute of Limitations on Collection

, , , , , , ,
Article Highlights: Understanding the 10-Year Clock Situations that Toll the Statute of Limitations Avoiding Unnecessary Extensions Strategies for Navigating the 10-Year Collection Period Important Considerations Should…

Trump Accounts Go Live July 4. What to Do Now to Avoid Losing Out

, ,
Article Highlights: Trump Accounts Scheduled to Launch July 4 What to Expect from the Treasury and Activation Emails If You Haven’t Signed Up Yet, Simple First Steps Why Form 4547 Filed with Your 2025 Tax Return Simplifies Activation …

Did You Repay Money You Paid Taxes on in a Prior Year?

, , ,
There is a Solution to Provide Tax Relief. Article Highlights: Repaid Income that Was Taxed in a Prior Year Claim of Right Doctrine Common Situations for Repayment Relief Mechanisms: Deduction or Credit Determining the Best…

A Surprise Refund Opportunity? Millions of Taxpayers May Be Owed COVID-Era Penalty Refunds

, , ,
The pandemic disrupted… well, everything. Business operations. Filing deadlines. IRS processing. Even the way taxpayers interacted with the government changed almost overnight. Now, years later, a federal court case is reopening a question…

The IRS Is Paying Attention Again: Why More Taxpayers Are Getting Notices

, , , ,
For a period of time, IRS activity felt quieter. Response times were longer. Enforcement felt less visible. Fewer taxpayers were hearing from the IRS directly. Many people got used to that environment. Now things are shifting. Not all at…

Comprehensive Guide to 2025 Tax Changes: What Taxpayers Need to Know

, , , , ,
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 …

It’s Tax Time – Beware of Scams

, , , , ,
Article Highlights: Awareness Seniors Are Frequent Targets How to Spot a Scam Common Phishing Emails Common Smishing Texts How to Protect Yourself Social Media Tax season is a busy time for taxpayers. It is also a…

Unraveling the 2025 Tax Overhaul: How New Laws Could Impact You

, , , , , ,
Article Highlights Standard Deductions Increased New Senior Deduction Qualified Sound Recording Production Expenses Required Minimum Distributions (RMD) No Tax on Tips No Tax on Qualified Overtime New Vehicle Loan Interest…

How the One Big Beautiful Bill Act Transforms R&E Tax Strategies for Businesses

, ,
Article Highlights: One Big Beautiful Bill Act What Constitutes R&E Expenses R&E Expensing– A Short History R&E Expensing After the OBBBA Domestic vs. Foreign Differentiation Options to Accelerate Expenses…

IRS Shifts to Paperless Refunds: What This Might Mean for You

, , ,
Article Highlights: Executive Order The Impetus Behind the Transition Challenges Facing Unbanked Taxpayers Proposed Solutions and Alternatives In a move set to redefine the refund process, the Internal Revenue Service (IRS),…