IRS Extends Relief for Inherited IRAs
May 02, 2024
For the third consecutive year, the IRS has published guidance that offers some relief to taxpayers covered by the “10-year rule” for required minimum distributions (RMDs) from inherited IRAs or … Continued
IRS Issues Guidance on Tax Treatment of Energy Efficiency Rebates
April 29, 2024
The Inflation Reduction Act (IRA) established and expanded numerous incentives to encourage taxpayers to increase their use of renewable energy and adoption of a range of energy efficient improvements. In … Continued
President Biden’s Proposed Budget Highlights Tax Agenda
March 21, 2024
President Biden has released his proposed budget for the 2025 fiscal year, which includes numerous tax provisions affecting businesses and individual taxpayers. While most of these provisions have little chance … Continued
The IRS Unveils ERTC Relief Program for Employers
January 25, 2024
Since July 2023, the IRS has taken a series of actions in response to what it has termed a “flood of ineligible claims” for the Employee Retention Tax Credit (ERTC). Most … Continued
Corporate Transparency Act, SECURE 2.0 and more!
January 22, 2024
Enjoy our latest BLS Video Update where Karly Laughlin, CPA, AEP and Mike Kelly, CPA discuss Corporate Transparency Act, SECURE 2.0 and more! Topics include General Updates with Karly Laughlin, CPA, … Continued
There’s a New Threshold for Electronically Filing Information Returns
January 19, 2024
Does your business file 10 or more information returns with the IRS? If so, you must now file them electronically. This is a significant rule change that went into effect … Continued
Delaware Paid Leave – January 1, 2024 Deadline for Certain Employers
December 13, 2023
Delaware employers who meet either of the below criteria should be aware of the upcoming January 1, 2024, deadline. Please contact the Delaware Department of Labor or your HR … Continued
IRS Delays New Reporting Rule for Online Payment Processors
December 06, 2023
For the second consecutive year, the IRS has postponed the implementation of a new rule that would have led to an estimated 44 million taxpayers receiving tax forms from payment … Continued
What you need to know about the Corporate Transparency Act
November 29, 2023
*Updated 11/30/2023 based on the final ruling from FinCEN.* *Clarified penalty information 1/25/2024* The Corporate Transparency Act (CTA) was enacted into law as part of the National Defense Act for … Continued
The 2024 cost-of-living adjustment numbers have been released: How do they affect your year-end tax planning?
November 20, 2023
The IRS recently issued its 2024 cost-of-living adjustments for more than 60 tax provisions. With inflation moderating slightly this year over last, many amounts will increase over 2023 amounts but … Continued