Cryptocurrency holders: Be alert for a new IRS impersonation scam. Fraudsters are mailing fake IRS letters directing recipients to a bogus “Digital Asset Compliance Portal.” The letters instruct recipients to scan a QR code that leads to a fraudulent website designed to look like https://bit.ly/2qDnQsI The site may ask for personal information, cryptocurrency wallet details, […]
Read More Cryptocurrency Holders: Watch Out for a New IRS ScamSome small business owners overlook Roth IRAs because they assume their income is too high for them to qualify to make Roth contributions. Others may think their current tax rate is higher than it will be in retirement, making current tax deductions more valuable than future tax-free distributions. However, if you don’t at least consider […]
Read More Self-employed? Don’t overlook a Roth IRAA bipartisan tax bill that could improve tax administration and reduce burdens for taxpayers advanced out of the Senate Finance Committee on July 30. The Taxpayer Assistance and Service Act would, among other things, expand digital services, increase transparency about processing delays and wait times, add more callback options and provide additional relief for some […]
Read More Taxpayer Relief Bill Advances in the SenateDo you have a health savings account (HSA)? If you’re covered by a high-deductible health plan (HDHP) or Bronze or Catastrophic plan available on state and federal insurance exchanges, you can pair it with an HSA. HSAs are funded with pretax or tax-deductible contributions, and withdrawals to pay for qualified out-of-pocket medical expenses are tax-free. […]
Read More Triple Tax Benefits: Why HSAs Are Worth a LookCash hasn’t disappeared — but it’s no longer the preferred payment method for many customers. As electronic and digital options continue to expand, more businesses are evaluating how much they rely on physical currency. Rather than eliminating cash entirely, many are exploring a “cash-light” approach. Here’s a look at current payment trends and the practical […]
Read More Rethinking payment options for your businessA new bill in the U.S. House would enable philanthropic organizations and states to make unlimited contributions to Sec. 530A accounts (also known as Trump accounts) on behalf of children in foster care. Currently, most 530A accounts aren’t eligible to receive unlimited contributions. If passed and signed into law, the Foster Youth Investment Act would […]
Read More New Proposal Could Expand Savings for Foster YouthWhen canceled debt is considered taxable income
Read More When canceled debt is considered taxable incomeMaking large gifts to your family can significantly reduce the size of your taxable estate. But hard-to-value gifts, such as interests in a closely held business, can lead to gift tax liabilities (plus interest and possibly penalties) if the IRS determines that the gift was undervalued. To help avoid an unexpected outcome, consider making a […]
Read More Protect Your Estate Plan with Defined-Value GiftsNational Whistleblower Appreciation Day was July 30. Since the IRS program’s inception in 2007, whistleblower information has contributed to more than $8 billion recovered and over $1.4 billion paid in awards. The IRS Whistleblower Office provides a secure process for individuals to report tax violations. In some cases, taxpayers receive a monetary award for information […]
Read More Could You Qualify for an IRS Whistleblower Award?Cigarette Taxes by State, 2026 https://bit.ly/4wNRV4P
Read More Cigarette Taxes by State, 2026
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