News & Perspective

Treasury equity action plan part two. The Treasury and IRS are looking at ways to to make the tax system better, and fairer to taxpayers. They have started the "Equity Action Plan: One Year Progress Report", which will detail the progress on t... Read More

Treasury equity plan reports progress. Even though the tax filing season is over, Treasury and the IRS will continue gathering feedback as part of efforts over the past year to make the tax system more equitable and fair, according to Treasury'... Read More

What slows down a tax return part two. Another myth that some taxpayers seem to believe is that they need to wait for their 2020 tax return to get processed and finished prior to filing their 2021 tax return, or all refunds are delayed due to t... Read More

Use tax calculator to make accurate return. With the Tax Season for the majority of Taxpayers now behind us, the IRS is memo IR-2022-81, April 13, 2022, is urging Taxpayers to use the Withholding Estimator to ensure the accuracy of tax returns. Th... Read More

What will slow down a tax return. Taxpayers often call us to ask about why the tax return they sent in has not been processed, and it could have been 3-4-5-6 months ago. That is more complicated during the age of Covid, as the pandemic has caus... Read More

Steps to stop tax return errors. The IRS announced in bulletin IR-2022-62 that taxpayers should be aware of common mistakes that can delay issuing tax refunds. This filing season, the IRS is seeing signs of a number of common errors, including ... Read More

Required minimum distributions. The IRS recently issued regulations regarding required minimum distributions under the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE ACT), which made several changes to retirement regu... Read More

Pension plans as a tax dodge. Pensions as a tax dodge are making a comeback with wealthy business owners. That's an area where traditional pension plan's are getting new life. Pensions, also known as defined benefit plans, can be used by doctors, ... Read More

Choosing the right status for your company. When starting a business, the first question that needs to be answered is, what type of operation is it, and what type of status for tax purposes do you want it to be ? That needs to be done upfront, ... Read More

Child tax credit payments and your 2021 taxes. If you have received the advance Child Tax Credit payments from the IRS this year, along with millions of other Americans, you may be wondering how this might impact your 2021 tax return. Two tax c... Read More