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 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 the […]
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 […]
Tax Blast Newsletter – August 2024
Stay informed with the August 2024 Tax Newsletter: Special Edition – Energy Credits Energy Credits have been around for a long time – but changes at the whim of Congress. The newsletter will discuss a bit of history so we understand how we arrive at the current energy policy and then will delve into the […]
Tax Blast Newsletter – July 2024
IRS has issued new FAQ’s on a few topics, and we have included a few reminders on some issues. TIGTA reports are always interesting as well as for nothing else then clarification on what IRS is doing right or wrong. With 2024 being an election year – most legislation is stalled – so now is […]
Tax Blast Newsletter – June 2024
Stay Informed with the June 2024 Tax Newsletter In this Issue: Watch Out for These Current Scams Tax Pros: Use Current Version of Offer in Compromise Booklet To Protect Against Identity Theft, IRS Adds Additional Protectionsto Centralized Authorization File, Transcript Delivery System; Changes Designed to Protect Sensitive Tax Pro, Taxpayer Information Procedures for §355 PLR […]
Tax Blast Newsletter – May 2024
In this Issue: When is the Form 990 series filing deadline? IRS Reminds U.S. Taxpayers Living, Working Abroad to File Tax Return ERC Claim Withdrawal Program Still Open; Recheck Claims Fiscal Year 2024 Mandatory Review of Compliance with the Freedom of Information Act IRS Delivers Strong 2024 Tax Filing Season; Expands Services for Millions of […]
Tax Blast Newsletter – April 2024
In this Issue: New Digital Assets IRS Page Inflation Reduction Act: Continued Assessment of Transformation Efforts Businesses: Electronically file Form 8300 to report cash payments over $10,000 Auto Dealers Must Register with the IRS to Receive Advance Payments of the Clean Vehicle Tax Credit IRS Launches New Effort Aimed at High-Income Non-Filers Deadline Approaches for […]
