Tax Newsletter – April 2025
Tax Newsletter – April 2025 In this Issue: UPDATE: Meet JoJo –> the NEW Basics AI Agent Issue 1: FinCEN Removes Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons, Sets New Deadlines for Foreign Companies Issue 2: DOGE Issues Issue 3: Social Security Administration Resumes Treasury Offset Program Collections After COVID-19 Suspension Issue […]
Tax Newsletter – March 2025
Tax Newsletter – March 2025 In this Issue: Update: Get the latest on BOI drama Issue 1: Keeping Ourselves Stressless During Tax Season Issue 2: A Computer Programming Change Is Needed to Delay the Erroneous Issuance of Refunds Based on Dishonored Checks Issue 3: Revenue Procedure 2025-16 Issue 4: Don’t Wait on Hold; Use IRS […]
Tax Newsletter – February 2025
Tax Newsletter – February 2025 In this Issue: Most Recent News on Corporate Transparency Act as of January 25, 2025 Issue 1: 2025 Tax Season Begins January 27, 2025 Issue 2: Disaster-area Clients with Extensions: Some Must File by Feb. 3, Others May 1 Issue 3: Accessing Retirement Funds in a Disaster Issue 4: Standard […]
Tax Newsletter – January 2025
2025 Basics & Beyond Tax Newsletter – January 2025 December 26, 2024, Update BOI Reporting Put on Hold Yet Again – We are back to wait and see!!!!!! The Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA) have been temporarily halted following recent court rulings. On Dec. 26, 2024, the 5th […]
2024 Year-End Seminars: Questions & Answers
2024 Year-End Seminars: Questions & Answers Note To All: We did our best with the questions posed at the five Year-End Webinars. There were a few where additional information was needed and could not be addressed fully. Also note the CHANGE to the BOI -Corporate Transparency Act We left all the questions intact as posed […]
Tax Newsletter – December 2024
Tax Newsletter: December 2024 1040 Shutdown begins November 30, 2024 In this Issue: Proc. 2024-40 Inflationary Adjustments for 2025 – Issues 1-34 Notice 2024-80 – 2025 Amounts Relating to Retirement Plans and IRAs, as Adjusted for Changes in Cost-of-Living Disclosure Issues When Sharing Partner Information with Partnership IRS to Use IP PINs to Stop Refund […]
Tax Blast Newsletter – November 2024
Stay informed with the November 2024 Tax Newsletter In this Issue: Social Security Announces 5 % Benefit Increase for 2025 IRS Invites Public Feedback on Draft Form 7217 Partner’s Report of Property Distributed by a Partnership IRS Direct File Set to Expand Availability in a Dozen New States and Cover Wider Range of Tax […]
Fall Tax Update Q&A Summary
2024 Fall Tax Update – Q&A Summary Please note that our answers are based on the small amount of information presented. There could be issues where additional information, if available may change some of the answers provided. General Questions What if you cannot obtain a copy of your check from the bank. The Bank said […]
Tax Blast Newsletter – October 2024
Stay informed with the October 2024 Tax Newsletter In this Issue: Remind Your Clients of the Important Tax Issues Involving Contributions and Distributions from Online Crowdfunding Employer Educational Assistance Programs Can Still be Used to Help Pay Off Workers’ Student Loans through December 31, 2025 Voluntary Disclosure Program Reopens to Help Businesses with Incorrect ERC […]
Tax Blast Newsletter – September 2024
In this Issue: Voluntary Disclosure Program Reopens to Help Businesses with Incorrect ERC Claims New IRS, Treasury Guidance Focuses on “Basis Shifting” Transactions Used by Partnerships Mediation Can Help Taxpayers Settle Tax Issues Retirement Plan Distributions: IRS Provides Guidance on Certain Exceptions from 10% Additional Tax for Emergency Personal or Family Expenses and for Survivors […]
