Are you buying a home with someone you aren’t married to? If so, the IRS says that you may each be entitled to deduct half of the cost of the mortgage interest and real...

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The IRS began accepting 2023 tax returns on January 29th. Before we prepare your return, here are some common mistakes to avoid that could save you time and effort. While you may want to...

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Certain tax-exempt organizations that must file Forms 990-T, Exempt Organization Business Income Tax Return, will be unable to file electronically until March 17, 2024, due to a system upgrade. This will affect certain taxpayers...

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Have you ever been perplexed when reading an IRS letter you received in the mail? You’re not alone. The IRS is attempting to simplify and clarify its letters by launching the Simple Notice Initiative....

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Tax-exempt organizations enjoy favorable federal tax status, but they must guard it by following tax law and IRS regulations. If a group loses tax-exempt status, its income may be subject to federal tax and...

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The Tax Relief for American Families and Workers Act, which was approved by the U.S. House Ways and Means Committee, makes changes to the current tax treatment of research and development (R&D) expenditures. Right...

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The Inflation Reduction Act created two new tax credit delivery mechanisms, elective pay (otherwise known as direct pay) and transferability. These enable state and local governments, nonprofits and other entities to claim clean energy...

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As the 2024 tax season approaches, taxpayers should know they’re protected by a Taxpayer Bill of Rights. It provides the right to: 1) be informed, 2) quality service, 3) pay no more than...

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The IRS is informing businesses that they don’t have to report the receipt of digital assets the same way they report the receipt of cash until the IRS issues final regulations. The Infrastructure Investment...

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Senate Finance Committee Chair Ron Wyden (D-OR) and House Ways and Means Committee Chair Jason Smith (R-MO) have announced a $78 billion bipartisan bill dubbed the Tax Relief for American Families and Workers Act....

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