IRS launches new effort aimed at high-income non-filers; 125,000 cases focused on high earners, including millionaires, who failed to file tax returns with financial activity topping $100 billion In the continuing effort to improve tax compliance and ensure fairness, the Internal Revenue Service announced a new effort focused on high-income taxpayers who have failed to… Read More

Labor Day Monday, September 4, 2023 In celebration of Labor Day, many Americans will pack a picnic and head to their favorite park for a day trip. Others will pack the family vehicle and head to the beach or the mountains for one last summer blast over the holiday weekend. Although summer doesn’t officially end… Read More

The IRS has addressed questions about medical expenses related to nutrition, wellness, and general health. You may be wondering whether certain costs related to nutrition, wellness, and general health are medical expenses under section 213 of the Internal Revenue Code (Code) that may be paid or reimbursed under a health savings account (HSA), health flexible… Read More

There’s more to determining filing status than being married or single. As the year end approaches, it’s always wise to do a tax checkup. Reviewing filing status is a good place to start. Many taxpayers may not know they could be eligible for more than one filing status. So, as you get ready for the… Read More

Free File to stay open until November 17. More than 9 million individuals and families who appear to qualify for a variety of key tax benefits did not claim them by filing a 2021 federal income tax return. Many in this group may be eligible to claim some or all of the 2021 Recovery Rebate… Read More

IRS sending letters to over 9 million potentially eligible families who did not claim stimulus payments, EITC, Child Tax Credit, and other benefits. Starting this week, the Internal Revenue Service is sending letters to more than 9 million individuals and families who appear to qualify for a variety of key tax benefits but did not… Read More

One greeting might say Happy Income Tax Day! Monday, we celebrate our independence as a nation. We know everyone has fireworks, cookouts, and picnics on their minds. Not taxes. Everyone says, “Happy 4th of July.” But some might not think it is so “happy” when you consider other events in our nation’s history that occurred on… Read More

Important tax reminders for people selling a home. The National Association of Realtors® reported that home sales exceeded 5 million nationwide during the month of April 2022. A lot of families move during the summer. If you are selling your home, you may qualify to exclude all or part of any gain from the sale from… Read More

The IRS is suspending the mailing of additional letters as part of its efforts to help taxpayers during this pandemic period. These mailings include balance due notices and unfiled tax return notices among others. Much of this is due to the IRS entering this filing season with several million original and amended returns filed by… Read More

Deadline to file wage statements is January 31 for employers. As the IRS officially opens the 2022 tax season, it is a good time to remind employers of the January 31 deadline to file Forms W-2 and other wage statements. Filing these documents timely helps employers avoid penalties and helps the IRS in fraud prevention.… Read More