Each year, the IRS adjusts various tax provisions to account for inflation, impacting standard deductions, income thresholds, and retirement contributions. These adjustments are particularly relevant
Start-ups often face numerous hurdles, and unfortunately, many new businesses overlook critical tax obligations. Cash flow issues, often stemming from tax missteps, contribute to the
Starting January 1, 2025, the IRS is implementing new interest rates for tax overpayments and underpayments. These quarterly adjustments, based on the federal short-term rate,
In recent news, Intuit, the company behind TurboTax, faced backlash from the National Association of Tax Professionals (NATP) over a recent ad campaign. The ad,
The IRS recently announced a significant shift for cryptocurrency reporting, impacting those who rely on digital assets. Until now, taxpayers could use “universal wallet” accounting,
In a recent case that underscores the serious implications of payroll tax fraud, Linda Davis, the owner of Majestic Seals & Stripes, Inc., was sentenced
As a business owner, managing taxes can be complex, but it’s crucial to stay compliant. Recent cases, like the guilty plea of a telecommunications company