If you bring someone into your home to perform regular or occasional services, the IRS may consider them a household employee. When this applies, you may be responsible for Social Security, Medicare, and unemployment taxes, along with specific reporting requirements....
The IRS has announced increases to key retirement contribution limits for the 2026 tax year. These changes affect 401(k), IRA, SIMPLE, and other qualified plans. If you're planning your long-term savings strategy or advising clients, these updates are worth noting....
When a new employee begins working for you, one of the first forms they must complete is Form W-4, Employee’s Withholding Certificate. (You can find versions of the form in several languages here.) This document allows employees to provide information such as their filing status,...
The IRS has released its inflation adjustments for tax year 2026, covering more than 60 provisions. These changes reflect updates from the One, Big, Beautiful Bill (OBBB) and will apply to returns filed in 2027. Here's what stands out:...
While National Preparedness Month officially wrapped in September, the reminders from the IRS still stand strong this October. With hurricane season still active, winter storms on the way, and wildfire risks lingering, it's a good time to double-check that your emergency plan is ready to...
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)....
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...
The IRS shared some helpful reminders recently, and we’ve summarized them here so you can act now to make next tax season smoother....
