IRS announces an online tool for eligible dealers of plug-in electric vehicles

The IRS announced an online tool for eligible dealers of plug-in electric vehicles (EVs) or fuel cell vehicles (FCVs). These are collectively called “clean vehicles.” Dubbed the IRS Energy Credits Online tool, it allows dealers to register online and receive dealer advance payments for the Clean Vehicle Credit within 72 hours of a sale. The […]

IRS’s paperless filing initiative is progressing

Good news for taxpayers: The IRS’s Paperless Filing Initiative is ahead of schedule by nearly three months, according to Treasury Secretary Janet Yellen. The Inflation Reduction Act-funded initiative allows taxpayers to digitally respond to all correspondence. Indeed, as of Oct. 27, the IRS has received more than 35,000 responses to notices via its Document Upload […]

Be Alert! Business Identity Theft can be very serious

Heads up, business owners! Identity theft is a serious threat that can shut down your company, possibly forever. Among the signs that business identity theft has occurred: A business can’t file a tax return (because a return has already been filed using its ID number); a request for a routine extension is rejected; and tax […]

What’s your status?

Before you know it, it will be time to contact us to set an appointment for your 2023 tax return preparation. One of the choices we’ll need to make is the filing status you’ll use. Some taxpayers are eligible for more than one. The five statuses are: single, head of household, married filing jointly, married […]

Information Security Best Practices

National Cybersecurity Awareness Month (October) recently wrapped up, and the IRS and its Security Summit partners are sharing some best practices. You should be careful about revealing too much personal information on social media and be on the alert for unsolicited email and social media messages that ask for tax information. Also, encrypt tax records […]

Happy Veterans Day

“Freedom is never free.” -Unknown Thank you Veterans!!! We are free to do as we wish because of your service. We remain eternally grateful.

Excise Taxes and Fees on Wireless Services Drop Slightly in 2023

Excise Taxes and Fees on Wireless Services Drop Slightly in 2023 https://bit.ly/475i4zd

Check your withholding to avoid surprises

The IRS is reminding taxpayers that to prevent surprises at tax time they should review their withholding and, if necessary, adjust it. Tools are available to help. The Tax Withholding Estimator at irs.gov enables you to calculate your withholding and see how it affects refunds, take-home pay and tax due. If you or your employer […]

Disaster relief on the way?

The Federal Disaster Tax Relief Act has unanimously passed the U.S. House of Representatives’ Ways and Means Committee and been sent to the House for a full vote. The federal tax relief package for disaster victims extends and builds upon prior legislation. According to Tom Barthold, chief of staff of the Joint Committee on Taxation, […]

IRS extends time to perfect R&D credit

If your business has claimed the research credit under IRC Section 41 (commonly referred to as the “research and development,” or “R&D,” credit), listen up. The IRS has extended, through Jan. 10, 2025, the transition period for correcting research credit refund claims prior to the IRS’s final determination. During the extended transition period, the IRS […]