by candy | Mar 6, 2025 | IRS
Did you file an Employee Retention Tax Credit Claim after September 14, 2023? Have you been waiting to find out if your claim will be processed? The IRS stopped processing (ERC) claims that were received before the moratorium on September 14, 2023, to enhance their...
by candy | Feb 27, 2025 | IRS
Recently, the IRS has been busy addressing several important issues, from simplifying reporting for renewable-energy tax credits to finalizing rules around stock-repurchase taxes and crypto transactions. However, my attention is also focused on the upcoming election,...
by candy | Feb 20, 2025 | Featured, IRS
As we look ahead to the 2025 tax year (for filings in 2026), the IRS has made several important adjustments to tax brackets, standard deductions, and other financial thresholds. These changes, driven by inflation, may impact your tax planning. Here’s an overview of...
by candy | Jan 27, 2025 | IRS
The IRS has released interim guidance for sponsors of 401(k) and similar retirement plans who wish to offer matching contributions based on employees’ student loan payments. This is made possible by Section 110 of the SECURE 2.0 Act of 2022, which, starting in 2024,...
by candy | Jan 13, 2025 | Featured, IRS
In 2022, the IRS received $80 billion in multi-year funding under the Inflation Reduction Act (IRA), but $20 billion has since been clawed back. Now that we know the outcome of the November 2024 election, this funding could be further reduced. The IRS’s...
by candy | Dec 16, 2024 | Featured, IRS
The IRS has officially ended the possibility of extending (“stretching”) the distribution of inherited IRAs for most non-eligible beneficiaries. Under the new rules, beneficiaries who inherited IRAs in 2020 or later must transfer all assets from the...