The IRS announced it has extended the acceptance of digital signatures indefinitely “until more robust technical solutions are deployed.” In addition, the use of encrypted email when working directly with IRS personnel has been...

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Heads up: Under Sec. 179, your business may be able to currently deduct eligible property you’ve placed into service in 2023. This generally includes new and used machinery, equipment, off-the-shelf software, roofs, improvements to...

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For many car buyers, new electric vehicles (EVs) are priced out of reach, even when tax credits are applied. But it still may be possible to buy an affordable EV and qualify for a...

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Businesses planning to pay employees year-end bonuses can time their payments to reduce tax. For example, if your business operates on the cash basis, you must deduct bonuses in the year they’re paid. So...

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Major life changes can greatly affect your tax situation. This is especially true if you get married or divorced. If you experienced one of these events, be sure to address it with your tax...

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Taxpayers who owe more federal taxes than they can pay may be able to seek an Offer in Compromise (OIC) with the IRS. An OIC allows a taxpayer to settle a debt for less...

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The IRS recently halted the processing of Employee Retention Credit (ERC) claims through at least the end of 2023 as a result of numerous fraudulent claims. If you filed an Employee Retention Credit (ERC) claim...

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The Social Security Administration (SSA) has announced that for 2024 the maximum earnings subject to Social Security tax will increase $8,400, from $160,200 to $168,600. The $168,600 wage base for 2024 is slightly greater...

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If the IRS wants to talk to you about a specific tax matter, you can authorize a third-party to handle it on your behalf. But whether it’s an unpaid friend or relative or a...

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New IRS guidance is available for a tax credit for eligible home contractors of up to $5,000 per home. Eligible contractors must construct or substantially reconstruct and rehab qualified new energy efficient homes. The...

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