The IRS is reminding business owners of the option to electronically file their payroll tax returns and make tax payments. Also known as employment taxes, payroll taxes include federal (and possibly state) income tax...

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Health Savings Accounts (HSAs) are tax-advantaged savings accounts funded with pretax dollars. Funds can be withdrawn tax-free to pay for qualified medical expenses. An HSA must be coupled with a high-deductible health plan (HDHP)....

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If your company offers employees a single-employer defined benefit plan, take note: In Notice 2022-22, the IRS has released 2023 mortality improvement rates and static mortality tables. These rates and tables are used to...

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Most tax-exempt organizations must file certain 2021 returns with the IRS by May 16, 2022. Last week, the IRS reminded calendar year nonprofits of this deadline for submitting Forms 990, 990-N, 990-T and 4720...

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Relief is available to businesses if they owe penalties for additional income tax due to retroactive employee retention credit (ERC) claims. The ERC is a refundable credit claimed on employment tax returns. The IRS...

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For taxpayers who’ve filed for an extension, highlight this date on your calendar: Monday, Oct. 17. That’s the new deadline to file your tax return with the IRS. Be aware that an extension of...

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The IRS has just published new inflation adjustment factors and reference prices for determining Code Sec. 45 energy production credits. This credit generally is available to qualified renewal electricity producers. For 2022, the inflation...

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In 2019, the bipartisan Setting Every Community Up for Retirement Enhancement Act (SECURE Act) — the first significant legislation related to retirement savings since 2006 — became law. Now Congress appears ready to build...

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The 2021 tax filing season is nearly over, with the April 18 tax filing deadline fast approaching. If you’ve filed your return, were you unpleasantly surprised to learn that you owed the IRS money?...

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