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Category: IRS

March 14, 2025

IRS Reports Threshold Updates for IRS Form 1099-K

Form 1099-K, “Payment Card and Third-Party Network Transactions” is an information return that reports…

1099-K, Accounting, General Business, IRS, Small Business, Tax

March 14, 2025

Unclaimed IRS Recovery Rebates

The Internal Revenue Service issued an announcement related to the 2021 Recovery Rebate Credit….

Affordable Care Act, COVID-19, IRS, Recovery Rebate Credit, Tax

March 14, 2025

Important Reminder – Avoiding Taxpayer Penalties

As tax season gets underway, we want to remind taxpayers of ways to avoid…

General Business, IRS, Small Business, Tax

September 9, 2024

IRS Announces Hurricane Debby Tax Relief for Affected States

The IRS announced on August 9, 2024, that tax relief is available for individuals…

Disaster Relief, General Business, IRS, Small Business, Tax Relief

July 25, 2024

SCOTUS: Life Insurance Proceeds Increase Corp.’s Estate Tax Value

On June 6, 2024, The U.S. Supreme Court, in a unanimous decision, held that…

Estate Planning, Financial Matters After the Death of a Loved One, Financial Planning, General Business, IRS, Retirement, SCOTUS, Small Business, Tax Planning, Trusts

May 31, 2024

Coming Increase in Internal Revenue Service (IRS) Audits

The IRS Commissioner announced as part of its strategic plan, the intention to ramp…

Audits, General Business, IRS, Small Business, Tax

March 7, 2024

When Would I Receive an IRS Form 1099-R?

Form 1099-R is an IRS tax document that a retirement plan must distribute when…

1099-R, IRS, Retirement, Tax

December 27, 2023

Bots for IRS Customer Service?

Yes, you read that right! This is exciting news for taxpayers and tax professionals…

Automation, General Business, IRS, Tax, Technology

September 15, 2023

IRS Orders Immediate Moratorium on Processing New Employee Retention Credit (ERC) Claims

On September 14, 2023, the Internal Revenue Service (“IRS”) announced an immediate moratorium on…

COVID-19, Employee Retention Tax Credit, ERC, ERTC, General Business, IRS, News, Small Business, Tax Credits, Tax Relief

August 21, 2023

Estimated Corporate Tax Payment Requirements

Estimated tax payments are in place to ensure that the taxpayer is on the…

Accounting, Estimated Tax Payments, General Business, IRS, Small Business, Tax