The IRS Notice 2024-35 clarifies RMD guidance for 2024, provides relief for missed distributions, and outlines upcoming changes effective from 2025 for retirement accounts.
The IRS has extended the AMT underpayment waiver to August 15, 2024, to help corporations adapt to revised tax calculations under the Inflation Reduction Act.
The moment you find an audit letter in your mailbox can be anxiety-inducing, but it’s essential to approach the situation with a level head and a strategic plan
The IRS issued Notice 2024-33, easing underpayment penalties for corporations’ CAMT liabilities, aiding tax planning post-Inflation Reduction Act, with detailed compliance steps required.
“Nowhere sales” refer to sales where the physical location isn’t clear, complicating local sales tax determination. States use destination-based tax rules, economic nexus laws, throwback, and throw-out rules to ensure tax compliance.
The moment you find an audit letter in your mailbox can be anxiety-inducing, but it’s essential to approach the situation with a level head and a strategic plan
Online sellers who use Venmo and other website and phone payment apps will get a reprieve this year.
Accurate tax payment estimation is essential, requiring regular financial reassessment and understanding the consequences of miscalculations.
Paying income taxes with a credit card or personal debit card can be a double-edged sword.
Understanding IRS tax tables helps optimize tax strategies, aided by professional guidance.
Understand the eligibility and risks of home office tax deductions.
IRS designates April 15 as tax deadline; extensions available via Form 4868.
Understand the eligibility and risks of home office tax deductions.
Software like TurboTax lacks the personalized guidance and expertise provided by tax professionals, especially in complex situations.
Tax credits for energy-efficient home improvements extend to 2032, offering increased financial incentives for homeowners.
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