Category Archives for FEDERAL TAXES

IRS Crackdown Targets $1.4 Billion in Unpaid Gambling Taxes

  • November 20, 2024

The IRS is preparing a tax-enforcement push to address $1.4 billion in unpaid gambling taxes.A recent audit by the Treasury Inspector General for Tax Administration (TIGTA) revealed that nearly 150,000

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IRS Announces New Federal Income Tax Brackets for 2025

  • November 20, 2024

The IRS recently unveiled the new federal income tax brackets for 2025, adjusting income thresholds across all tax rates. These changes, including increases to the standard deduction, aim to account for

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Pickleball Taxes – Who Knew?

  • October 22, 2024

Could Your Favorite Sport Cost You More Than You Think?From California to Arizona, this popular sport is sparking debate in some communities. Could you be subject to ‘pickleball taxes’?In the last

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Charity Scams: Protect Yourself from Fraud After Disasters

  • October 22, 2024

The Internal Revenue Service (IRS) has issued a notice urging taxpayers to be on guard for scammers posing as charities in the wake of Hurricanes Milton and Helene. They are seeing a wave of charity scams

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Hurricane Helene Relief Programs: Essential Resources for Recovery

  • October 2, 2024

As we begin the recovery process from Hurricane Helene, it's crucial to be aware of the relief programs available for individuals and businesses in Florida, Georgia, South Carolina, North Carolina, and

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New IRS Initiative to Combat Tax Scams

  • September 25, 2024

A Deeper Dive into this New IRS Collaboration with the Tax Industry to Protect Taxpayers from FraudThe IRS initiative to combat tax scams is part of a new joint effort aimed at protecting taxpayers

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Tax Planning for TCJA Expiration: What You Need to Know

  • September 25, 2024

It’s that time of year when tax professionals begin reaching out to clients to plan for the upcoming tax season. This year, however, tax planning for TCJA expiration presents unique challenges due to

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Protect Yourself from IRS Tax Scams

  • August 23, 2024

The IRS's New Coalition Says It Has Your BackAs tax scams become more sophisticated, the IRS is stepping up its efforts to protect you, the taxpayer, from falling victim. The agency has launched the

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IRS Cracks Down on Non-Filers: Are You Prepared?

  • August 23, 2024

The IRS is turning up the heat on IRS non-filers, and if you haven't filed your tax returns since 2017, you could be in their sights. With the new resources provided by the Inflation Reduction Act, the

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Supreme Court Rules for IRS on Estate Tax and Life Insurance Proceeds

  • July 24, 2024

The Supreme Court unanimously ruled that life insurance proceeds used to buy back a deceased shareholder’s stock must be included in the estate's value for tax purposes.Background of the CaseThe case

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