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. ...
Last edition, we covered the impact on businesses of the new tax legislation. This month, it’s all about the provisions that impact individual taxpayers. Here are some key provisions to know about....
The freelance workforce in the U.S. is growing rapidly. In 2017, 57.3 million Americans freelanced. That number climbed to 73.3 million by 2023, and projections from Statista estimate it will reach 90.1 million by 2028, representing a more than 40% jump in just over a...
Facing a business audit can be stressful, but it’s important to stay calm and understand why it might be happening. Audits can occur randomly, but they’re often triggered by red flags in tax filings, such as high expense claims, incorrectly classified workers, or unusual deductions....
The One Big Beautiful Bill was passed into law on July 4. As with most tax legislation, this bill has an impact on both businesses and individuals. Here are some of the key provisions that will affect businesses. In our next newsletter, we’ll cover the...
We’re excited to welcome Jennifer Fanelli to KRS as a Senior Accountant. Jennifer joined the firm on July 1 and supports audit and assurance services for clients needing audits, compilations, or reviews. She’s also involved in tax work and steps in wherever needed to support...
Sales tax is a consumption-based tax applied to the sale of goods and services, but its structure is anything but uniform across the United States. With varying rates, rules, and exemptions depending on the jurisdiction, navigating sales tax obligations can be a complex but necessary...
The IRS shared some helpful reminders recently, and we’ve summarized them here so you can act now to make next tax season smoother....
