IRS announces annual inflation adjustments for tax year 2024
November 9, 2023
The IRS announced inflation adjustments for over 60 tax provisions in 2024, including standard deductions for married and single individuals.
Articles & Industry News
Industry News
Social Security Wage Base Increases To $168,600 for 2024
October 18, 2023
The Social Security Administration (SSA) announced on Thursday, October 12, that the 2024 social security wage base will be $168,600, which is an increase of $8,400 from $160,200 in 2023 (view the SSA Fact Sheet). As in prior years, there
IRS Shifts Focus of Compliance Enforcement from Working-Class to Wealthy Taxpayers
September 24, 2023
IRS announces sweeping effort to restore fairness to tax system with Inflation Reduction Act funding; new compliance efforts focused on increasing scrutiny on high-income, partnerships, corporations and promoters abusing tax rules on the books
New Business Requirements: e-file Form 8300 for $10,000 + cash payments in 2024
September 2, 2023
Some businesses that receive cash payments of over $10,000 must file Form 8300 electronically starting in 2024.
IRS Changes Collection Approach: Protecting Employees and Taxpayers
July 23, 2023
Learn about the new policy replacing surprise home visits with scheduled meetings via Letter 725-B and how this change aims to enhance safety and reduce confusion.
Comptroller Lierman Announces Faster, Easier Online Process to Claim Unclaimed Property
June 27, 2023
Those who find their name on the Unclaimed Property list can now file a claim form digitally via Maryland OneStop.
PGA Tax-Exempt Status in the Rough Following LIV Golf Merger
June 21, 2023
Congressional lawmakers have raised concerns about the validity of the U.S.-based golf organization’s tax-exempt status after a surprise announcement of a merger with its Saudi-backed rival.
An Identity Protection PIN helps shield taxpayers from tax-related identity theft
May 30, 2023
Identity Protection PINs stop identity thieves from filing fraudulent tax returns. Taxpayers who participate in this program are assigned a six-digit number that they use to prove their identity when they file their federal tax return.
2021 Year-End Tax Planning for Business Clients
November 4, 2021
With year-end approaching, it is time to start thinking about moves that may help lower your business’s taxes for this year and next. This year’s planning is more challenging than usual due to the uncertainty surrounding pending legislation that could
2021 Year-End Planning for Our Individual Tax Clients
November 4, 2021
With year-end approaching, it is time to start thinking about moves that may help lower your tax bill for this year and next. This year’s planning is more challenging than usual due to the uncertainty surrounding pending legislation that could,
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