In March 2023, the IRS issued Revenue Ruling 2023-2, which introduced a significant alteration in the way assets in irrevocable trusts are handled for tax purposes. According to the new rule, assets placed in an irrevocable trust that are excluded from the grantor's taxable estate...
All taxpayers are protected by the Taxpayer Bill of Rights, which includes the right to finality. This means you are entitled to know how long the IRS has to act on certain matters, and when a process is officially closed....
The IRS announced that there will be no changes to common payroll and reporting forms for Tax Year 2025 as part of the phased rollout of the One Big Beautiful Bill Act (OBBBA)....
If you're working toward a degree in accounting or recently graduated, KRS wants to meet you. We’re recruiting for entry-level roles that offer hands-on learning, strong mentorship, and a workplace culture that supports your career and your life outside of it. Our team includes professionals...
Since joining KRS CPAs LLC in August 2025, Damaris Herrera has been a key part of making sure everything at the office runs like clockwork. As Office Manager, she handles the daily operations, supports the tax and assurance teams, and leads the administrative staff with...
Property taxes play a vital role in supporting your community’s infrastructure, including funding for schools, road maintenance, public safety departments, recreational areas, and local transit systems. These taxes are imposed by municipal, county, and educational districts, all of which contribute to your total property tax...
The reconciliation tax bill signed into law by President Trump on July 4 sets out sweeping tax changes, with many provisions of interest to the real estate industry. This Alert highlights the most important changes for the industry to focus on in tax planning....
Most people don’t think about their rights when they’re dealing with the IRS—but they should. Whether you’re filing a return, responding to a notice, or sorting through a more complex issue, the Taxpayer Bill of Rights outlines what you can expect from the IRS at...
Understanding the tax benefits available to military personnel, veterans, and their families can lead to valuable savings. The IRS offers several provisions tailored specifically to this community:...
Here’s what to know if you’re going through a separation or divorce. If you’ve recently separated or finalized a divorce, you’ve got a few tax-related updates to consider before the end of the year. ...
