Follow IRS Rules to Nail Down a Charitable Tax Deduction
Nov 14, 2023 | Tax Tips
Donating cash and property to your favorite charity is beneficial to the charity, but also to you in the form of a tax deduction if you itemize. However, to be deductible, your donation must meet certain IRS criteria. First, the charity you’re donating to must...Withdrawing ERC Claims
Nov 14, 2023 | Tax Tips
Recently, the IRS halted processing of claims for the Employee Retention Credit (ERC), due to a high volume of fraudulent claims. The moratorium is through at least the end of 2023. ERC claims that were already filed are now subject to longer processing, including...IRS Provides Guidance on SECURE 2.0 Catch-Up Contribution Changes
Sep 4, 2023 | Tax Tips
In Notice 2023-62, the IRS addressed a technical error in the SECURE 2.0 Act that wouldn’t have allowed catch-up contributions to 401(k)s and similar plans after 2023. Generally, taxpayers who’re age 50 or older are allowed to make additional “catch-up” contributions...What Certain IRS Notices Mean
Sep 4, 2023 | Tax Tips
What does it mean if a business receives a Notice CP2100 or CP2100A from the IRS? These notices tell recipients that the Form 1099 information returns they’ve submitted contain missing or incorrect Taxpayer Identification Numbers, names or both. To respond,...Tax Season Is Long Over, but Tax Scams Are Thriving
Sep 4, 2023 | Tax Tips
The IRS is warning taxpayers about emails and text messages that promise refunds and credits, but that actually result in identity theft. Many current schemes involve the third Economic Impact Payment (originally made in 2021). Messages may also reference the Employee...Tax Due Dates for
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