The IRS has announced additional relief for pass-through entities required to file two new tax forms — Schedules K-2 and K-3 — for the 2021 tax year. Certain domestic partnerships and […]
This month, Senate Bill 113 (SB 113) was signed into law by Governor Newsom and holds significant California tax law changes, comprised of the reinstatement of business tax credits and […]
If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square, or PayPal, you could be affected by new tax reporting requirements that take effect […]
California passed Assembly Bill 150 (AB 150), which allows qualified S corporations, partnerships, or LLCs to pay tax on their individual, trust, or estate owners’ share of the entity’s qualified […]
The IRS recently issued its 2022 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, mainly due to the COVID-19 pandemic, many amounts increased considerably […]
Using a series of how-to videos, the IRS is helping taxpayers avoid potential scams by applying for an Offer in Compromise (OIC) themselves rather than relying on unscrupulous third-party services. […]
The IRS has announced that beginning January 1, 2022, it will close several individual payment P.O. Boxes in the San Francisco, California, and Hartford, Connecticut, areas. These P.O. Boxes are […]
President Biden recently announced his $1.8 trillion American Families Plan (AFP), the third step in his Build Back Better policy initiative. The announcement followed the previous releases of the proposed $2.3 trillion […]
The IRS has released its 2021 Collection Financial Standards. These standards are used to determine the ability of a taxpayer to pay a delinquent tax debt. They’re effective for an […]
