Important September 2025 Due Dates

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September 2025 Individual Due Dates September 2025 tax deadlines include tip reporting and estimated tax payments. Learn safe harbor rules, how to avoid penalties, and strategies to prepare for 2026. 2025 Fall and 2026 Tax Planning Tax…

Understanding the New Deduction for Overtime Under the OBBBA: A Comprehensive Guide

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The recent passage of the One Big Beautiful Bill Act (OBBBA) marks a significant shift in the tax landscape, bringing with it a range of changes aimed at easing the financial burden on American workers. Among these changes, the introduction…

Navigating IRS Penalty Abatement

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Article Highlights: Understanding Reasonable Cause Abatement What Constitutes Reasonable Cause? How to Apply for Reasonable Cause Relief Who Can Apply? IRS Guidelines on Evaluating Reasonable Cause Grounds Used for Requesting…

Tax Bill Clears the House: What It Means for Americans and What’s Next

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On May 22, the U.S. House of Representatives passed a sweeping tax package, advancing a bill that could significantly reshape the federal tax landscape heading into the 2025 filing season. Dubbed by supporters as “The One Big Beautiful Bill,”…

Understanding Filing Requirements and Non-Compliance Penalties for Exempt Organizations 

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Article Highlights: Annual Filing Requirements Understanding Which Form to File Due Dates and Extensions Online Filing Options Consequences of Late Filing or Non-Filing Monetary Penalties for Filing Non-Compliance Other…

Unlock Savings: How the Child and Dependent Care Credit Can Ease Your Childcare Costs

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Article Highlights: Qualifying Expenses Whose Care Qualifies Filing Requirements for Married Taxpayers Maximum Amount of Expenses Eligible Imputed Income for Disabled or Full-Time Student Spouse Credit Percentages Based…

Uncertain About the Reporting Deadlines for BOI?

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Article Highlights: Corporate Transparency Act Beneficial Ownership Information Events Leaving Beneficial Ownership Information Reporting in Doubt History of Events Current Status Back in 2021 Congress passed the Corporate…

How Living in a Community Property State Impacts Married Couples’ Taxes

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Article Highlights:  Community Property Laws Community Property States Domicile and Its Importance Treatment of Community Property Community vs. Separate Property When Community Property Ends Special Rule for Spouses…

Navigating the Complex Tax Maze for Student-Athletes

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Article Highlights: Scholarships Grants and Financial Aid Income from NIL (Name, Image, and Likeness) NCAA Eligibility and Tax Considerations Part-Time Jobs Student’s Standard Deduction Education Credit Student Loan…

You May Receive a Form 1099-K This Year: What It Means for Your Taxes  

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Article Highlights: Historical Context of Form 1099-K The Evolution of Reporting Thresholds Current Reporting Threshold for 2024 Implications for Recipients of Form 1099-K Impact on Tax Reporting Individuals Selling Personal…