Even though we’re still in the 2023 tax year, you’re probably thinking to yourself, Gosh! I wonder what the tax brackets are for the 2024 tax year? We’ve got you covered — and there’s actually some good news, thanks to inflation. The Internal Revenue Service (IRS) adjusts tax brackets for inflation each year, and because inflation […]
What Are the Tax Brackets for 2023 and 2024? Read More »
the Internal Revenue Service (IRS) website seen displayed on a smartphone. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images In the News On July 3 the Internal Revenue Service warned taxpayers about a mailing that misleads them into believing they are owed a tax refund and includes contact information
IRS Recommends Tools To Prevent And Report Tax Refund Fraud Read More »
The Internal Revenue Service issued guidance Wednesday on how taxpayers should report the special tax payments, refunds and rebates they received from states in recent years as a form of relief during the pandemic. The latest information follows up on previous guidance issued by the IRS in February, which basically said most taxpayers wouldn’t need
IRS updates guidance on handling special state tax payments Read More »
closely with their financial advisor and CPA to avoid a nasty surprise come tax time. getty Those planning to liquidate a significant amount of employer stock this year will want to be aware of a little-discussed side effect of recent Fed rate hikes – steep tax penalties. Having lived through significant drawdowns in 2022, and
Selling Employer Stock In 2023? Beware Of Steep IRS Tax Penalties Read More »
The IRS is warning taxpayers about a new scam involving tax refunds. Here’s how the scam works. Fraudsters are mailing taxpayers what looks like a cardboard envelope from a delivery service. The accompanying letter—complete with a fake IRS masthead—suggests that the notice is “in relation to your unclaimed refund.” The letter includes bogus contact information
IRS Issues Warning On New Tax Refund Scam Read More »
ACA compliance has been a complex, time-consuming, and costly endeavor for employers across the country, and compliance isn’t made any easier by the fact that ACA requirements are dynamic and regularly updated. One such change, an increase to Patient-Centered Outcomes Research Institute (PCORI) fees—which are used to support healthcare research funding—is set to take effect
PCORI Fee Increase and ACA Compliance | The ACA Times Read More »
It’s the middle of May, so naturally, we’re going to talk income taxes for a minute. That’s right — in May. Because the IRS is offering you rare (and free) help on a weekend. After all of the winter storms in California, the state and federal government gave everyone in the Bay Area an extension
Free IRS Tax Help Available in the Bay Area This Weekend Read More »
Taxpayers have one day left to file Alabama and federal taxes. Alabama offers an automatic extension to those in need of additional time past Tuesday’s deadline. That pushes the file date to October sixteenth. This additional time has already been applied to Alabama counties federally declared as disaster areas following severe weather in January. Kathleen
It’s IRS tax time Alabama, but the deadlines differ Read More »
Americans have an April 18 deadline to file their 2022 tax returns with the IRS. But if you aren’t ready, there is a pressure valve that can provide some relief: Asking for more time to file. As of April 7, about 101 million taxpayers have filed their returns, according to the most recent data available
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financial report with magnifying glass. getty With the release of the IRS’ strategic operating plan (you can read about it here), there has been a lot of conversation about enforcement. Specifically, there are worries that the IRS will use extra funding from Congress to target working families and small businesses making under $400,000—a charge that
IRS Criminal Investigation Arm Continues To Chase Covid-Related Fraud Read More »
