As the year winds down, you may be hoping to combine smart estate tax planning with tax savings using the annual gift tax exclusion. For 2025 and 2026, this exclusion is $19,000, which you...

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The IRS has announced its annual inflation-adjusted income tax brackets and other amounts. For 2026, the highest rate (37%) will apply to taxable income over $640,600 for individuals ($768,700 for married filing jointly and...

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Employers who’re responsible for collecting payroll tax and remitting it to the IRS can face a penalty equal to 100% of the unpaid amount if they willfully fail to do so. The Trust Fund...

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When the federal government shutdown began on Oct. 1, 2025, the U.S. Tax Court announced it would remain open, at least for a limited time. But that time has come to an end. Starting...

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If you want to expand your family by adopting a child, you’ll be pleased to know that a federal tax credit is available to help adoptive parents offset some of the costs. In 2025,...

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The One Big Beautiful Bill Act (OBBBA) introduced or updated numerous business-related tax provisions. The changes that are likely to have a major impact on employers and payroll management companies include new information return...

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The holidays are a time for gratitude, and when they arrive, many employers are planning to show appreciation by giving gifts to their staff. Different types of gifts can have different tax consequences. So...

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The IRS is providing penalty relief during the first three quarters of 2026 for banks and money transfer companies (so called “remittance transfer providers”) that fail to deposit a new 1% federal remittance transfer...

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Taxpayers involved in a dispute with the IRS may want to consider using one of the IRS’s alternative dispute resolution (ADR) mediation programs. These programs can help taxpayers efficiently resolve tax issues with the...

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