The Internal Revenue Service (IRS) has announced enhanced enforcement initiatives aimed at ensuring tax compliance, particularly among high-income earners and large corporations. With increased funding from the Inflation Reduction Act, the IRS is stepping up its efforts to close the
The IRS has announced its annual inflation adjustments for tax year 2025. These updates, outlined in Revenue Procedure 2024-40, include changes to more than 60 tax provisions. These adjustments will impact taxpayers filing their returns in 2026, and it’s important
As a business owner, understanding the differences between state and federal taxes is crucial for effective financial management. Each operates under its own set of rules, rates, and filing requirements, which can become complex if your business operates in multiple
Dealing with IRS tax debt can be overwhelming, but it’s important to know that you have options. If you’re unable to pay what you owe, there are several practical steps you can take to manage and resolve your tax debt
As we approach the 2024 U.S. Presidential Election, proposed tax policies could significantly affect your financial situation. Both parties offer different approaches that could impact income taxes, capital gains, and family tax credits. Here’s how the election could influence your
Filing your business taxes correctly and on time is critical to avoid penalties, reduce stress, and keep your business running smoothly. For S-Corporations, Partnerships, and LLCs, knowing your tax filing deadlines—especially if you’ve filed for an extension—can make all the
Tax debt can feel like a heavy burden, affecting more than just your relationship with the IRS. It can have far-reaching consequences on your overall financial health, including your credit score, ability to obtain loans, and even your mental well-being.
When facing tax situations or challenges, tax resolution becomes essential for individuals and businesses in managing their obligations with the Internal Revenue Service (IRS). Understanding what tax resolution is, the common problems that necessitate it, and the strategies available to
New Jersey Governor Phil Murphy recently signed the state’s $56.6 billion budget for FY 2025, which includes significant tax increases on large corporations, substantial funding for property tax relief, public schools, pensions, and community projects. This budget aims to address
As tax season approaches, it’s crucial to stay vigilant against potential scams that can significantly impact your financial health. The IRS has recently issued a nationwide warning about a tax scam involving clean energy credits, specifically known as “basis-shifting transactions.”
Sometimes the only way to come out on top against the IRS is by arming yourself with their best-kept secrets. Don’t let the IRS win – download our free guide today!
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