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Tax News (2)

IRS Rolls Out COVID-19 Penalty Relief, Aiding Millions with Back Taxes

The IRS has made a big move to help folks dealing with overdue taxes, announcing fresh penalty relief for around 4.7 million individuals, businesses, and tax-exempt groups who missed automated collection reminder notices during the pandemic.

This...

IRS Ramps Up Efforts Against Aggressive Employee Retention Credit Claims

In a concerted effort to address questionable Employee Retention Credit (ERC) claims, the Internal Revenue Service (IRS) has sent over 20,000 letters to taxpayers, informing them of disallowed ERC claims. These notifications pertain to entities that...

A new way to Shield An extra $1,000 !

Hey, guess what? The IRS just tossed in a sweet bonus for folks who hate dealing with taxes on their investments! Now you can shield an extra grand while prepping for retirement.Next year's 401(k) limit got a boost—up by 500 bucks, landing at...

Form 6765 is Getting a Makeover!

Hey there, fellow taxpayers! Big changes are coming down the pipeline from the IRS that could shake up how you handle your tax filings, specifically when it comes to Form 6765 and the Research and Development (R&D) tax credits. Buckle up because...

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