Blog Archives

5 Reasons Taxpayers over Age 70 1/2 Should Make a Charitable Donation From Their IRA NOW

The Tax Cuts and Jobs Act (“TCJA”) almost doubled the Standard Deduction. For 2023, Single filers can claim $13,850, Head of Household $20,800 and Married Filing Jointly $27,700. Additionally, the maximum amount that can be deducted for state and local

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Red Flags for Employee Retention Credit (ERC)

Red flags for Employee Retention Credit claims; IRS reminds businesses to watch out for warning signs of aggressive promotion that can mislead people into making improper ERC claims IR-2023-170: Page Last Reviewed or Updated: 15-Sep-2023   WASHINGTON — The Internal

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IRS Orders Immediate Stop To New Employee Retention Credit Processing

To protect taxpayers from scams, IRS orders immediate stop to new Employee Retention Credit processing amid surge of questionable claims; concerns from tax pros   IR-2023-169, Sept. 14, 2023   Aggressive marketing to ineligible applicants highlights unacceptable risk to businesses

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IRS Shifts Focus to Wealthy Taxpayers

IRS Shifts Focus of Compliance Enforcement from Working-Class to Wealthy Taxpayers IR-2023-166, Sept. 8, 2023 As part of an effort to restore fairness to the tax system, the IRS has announced its plan to shift the focus of compliance enforcement

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3 Smart Reasons to Use IRS Form 911

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. Do you have an IRS issue and you can’t seem to get it resolved?  You’re not alone.   Back in the day, if you had an

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