Corporate Transparency Act Establishes Expanded Reporting Requirements
The Corporate Transparency Act (CTA), which was enacted by Congress in 2021 as part of the Anti-Money Laundering Act of 2020, will establish a national database of Beneficial
Employee Retention Credit Paused Amid Growing Fraud Concerns
The Internal Revenue Service (IRS) has announced a moratorium on new claims related to the pandemic-era Employee Retention Credit (ERC, also known as Employee Retention Tax Credit)
Fed Pauses Interest Rates as Inflation Shows Signs of Slowing
On Wednesday, June 14, the Federal Reserve announced a pause in interest rate hikes for the first time since March 2022. The decision comes after promising economic indicators show
IRS Announces Record High Bumps to HSA Contribution Limits
If you’ve been thinking about ways to save on medical expenses, now may be the perfect time to open a Health Savings Account (HSA). Thanks to persistent inflation, the IRS recent
Corporate Transparency Act Establishes Expanded Reporting Requirements
The Corporate Transparency Act (CTA), which was enacted by Congress in 2021, will establish a national database of Beneficial Ownership Information (BOI) to crack down on
It’s Not Too Late for an IRA Contribution
Most of the time an expense that may be tax deductible needs to be paid by the end of the year for which the expense will be claimed. However, there is an exception to that rule. I
Don’t Ignore Household Employee Payroll Tax Rules
If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about – or one that you do know about but are ig
UPDATE: IRS Increases Tax Filing Extension for California Storm Victims
On Friday, February 24th, the Internal Revenue Service (IRS) announced an additional extension to tax filing deadlines for Californians impacted by recent historic storms. The new
Haven’t Filed Tax Returns for Multiple Years? Here’s What You Need to Do Next
You’d be hard-pressed to find someone who actually enjoys the process of filing taxes. Having said that, it’s absolutely something that you’re supposed to do like