Exempt from Federal Income Tax

If you claimed an exemption from federal income tax withholding in 2025, remember to renew it by Feb. 17. Your exemption won’t renew automatically. To keep your exempt status, fill out a new Form W-4 and give it to your employer by this date. If you don’t submit a new form, your employer will start […]

Filing Season is Open

Tax filing season started on Jan. 26, and for many taxpayers, that means a federal tax refund. If you file electronically, the IRS usually processes refunds within 21 days. Mailed returns can take six weeks or more. If your return needs corrections or extra review, it may take longer. To check your refund status, use […]

Do you have a state tax strategy?

Minimizing federal tax is just one segment of any tax-reduction strategy. Careful planning can also help individuals reduce (and even eliminate) state income, sales or property taxes. For example, if you’re able to, you might consider moving to a state that doesn’t tax income (multiple, including Florida and Nevada) or that charges no sales tax […]

2026 tax dates for individuals

Who must pay a Social Security tax?

Who must pay a Social Security tax? Test your knowledge.

IRS releases proposed regulations on clean fuel production credit

The IRS has proposed regulations regarding the clean fuel production credit (https://bit.ly/4kctoAO). The regs are intended to explain how clean transportation fuel makers can claim the $1-per-gallon tax credit. Created by the Inflation Reduction Act and commonly called the “45Z rule,” the credit was amended by the One Big Beautiful Bill Act (OBBBA). Among other […]

Get a Identity Protection Personal Identification Number

Before filing your 2025 income tax return, consider obtaining an Identity Protection Personal Identification Number (IP PIN). Having an IP PIN can help safeguard your tax identity. Issued by the IRS, this unique six-digit number helps prevent criminals from filing a fraudulent tax return using your Social Security number. It’s valid for one year and […]

Did the partial shutdown impact tax filings?

With the federal government recently partially shut down, you may be wondering about the effects on the IRS just as tax season opened on Jan. 26. Under a contingency plan, the IRS will use supplemental funding from the Inflation Reduction Act to keep its full staff on the job. According to the IRS, taxpayers can […]

IRS releases guidance on changes to R&E expensing

Among its numerous tax provisions, the One Big Beautiful Bill Act (OBBBA) reinstated immediate deductions for research and experimental (R&E) expenditures under Internal Revenue Code Section 174, beginning in 2025. The IRS has recently issued transitional guidance (Revenue Procedure 2025-28) on how this change will be implemented. The guidance addresses several critical issues. Here’s what businesses of […]