If you're selected for an IRS audit, it's natural to feel uneasy. However, it's important to know that the IRS cannot probe into your personal life without valid cause. Unless there is a strong indication that you've failed to report income, the IRS is restricted...
Many affluent families believe that their financial affairs are straightforward, leading to frustration over the lack of immediate access to comprehensive financial information for liquidity, budgeting, tax planning, and investment management purposes....
Getting a letter from the IRS can be unsettling, but it doesn’t have to be a headache. Most of the time, the IRS is just trying to clear something up or get additional information. Here’s what to do if one shows up in your mailbox:...
We’re pleased to welcome Candace Mapp, who joined KRS as an Administrative Assistant in February. In this role, she supports day-to-day operations and helps ensure things run smoothly behind the scenes....
Who qualifies for the extended deadline? You get this two-month extension (from April 15 to June 16) automatically if either of these apply: You live and work outside the U.S. and Puerto Rico, or You’re serving in the military outside the U.S. and Puerto Rico. To use...
Over the past several weeks, we’ve broken down some of the most common scams individuals are facing—many with big tax consequences. These schemes aren’t just about lost dollars. They’re about shaken trust, stolen time, and emotional stress most folks never saw coming. Here’s what we covered: ...
Disaster Prep: IRS Reminds Taxpayers to Safeguard Financial Records The IRS is reminding individuals and businesses that disaster preparation should be part of your annual routine. With tax season behind us and storm season already in motion, June is a smart time to take stock of...
Consistent with the U.S. Department of the Treasury’s March 2, 2025 announcement, the Financial Crimes Enforcement Network (FinCEN) is issuing an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate...
Facing an IRS audit can be stressful, but staying calm and organized is crucial. Begin by thoroughly examining your tax return, ideally with the help of the preparer or, if you filed independently, a qualified tax professional. The objective is to identify any red flags...
Despite the rollback of some U.S. federal regulations and considerable political turbulence, the private sector continues to advance the integration of sustainability into their corporate strategies and reporting. In fact, our most recent CFO Sustainability Outlook Survey showed that 91 percent of organizations that are...
