Recent Articles
The IRS messed up a lot of child tax credit payments, according to an audit.
Millions of taxpayers who were eligible for payments did not receive them, while millions of ineligible individuals did. A new report from the Treasury Inspector General for Tax Administration (TIGTA) on the IRS’s handling of advance child tax credit payments...
In Colorado, cryptocurrency is now accepted as payment for taxes.
Colorado residents can use digital currency to pay all kinds of taxes, including personal and business taxes. Coloradans can now pay their taxes with cryptocurrency, thanks to a plan announced earlier this year by Gov. Jared Polis. According to Polis,...
Income tax rates for 2023 – Projected
According to the 2023 Projected U.S. Tax Rates prediction, inflation-adjusted tax amounts in the tax code will rise by roughly 7.1% from 2022, which is more than double the increase of 3% from the previous year. Thomson Reuters Checkpoint calculated...
Identifying Your Firm Type to Select the Best Tax Tools
Investing in the right tech stack will save your company time, money, and energy, whether you’re a perfect fit for one of these five firm types or somewhere in the middle. If you work in the financial services industry, you...
Why Tax Professionals Need a Mindset of Antifragility
Everyone has heard the expression “hope for the best, prepare for the worst.” We actually need to go a step further with this approach as tax experts. Rather than simply preparing for the worst, we must teach ourselves how to...
A Brief Summary Of Current Tax Issues – 28th September
It’s tough to exceed the tax law’s “floor” for medical expenses, so make sure you identify every expense you’re authorized to claim. State taxes must be remembered. Only medical costs above 7.5% of adjusted gross income may be written off...