IRS News

Beneficial Ownership Reporting

All US companies will need to file a 1 time form with FinCen to report their "Beneficial Owners" beginning January…

11 months ago

FairTax Act of 2023

The FairTax Act of 2023 FairTax Act of 2023 (H.R.25) has been introduced to the United States Congress. Is it…

2 years ago

General Welfare is not Taxable

If a payment is made for the promotion of the general welfare or as a disaster relief payment, it may…

2 years ago

What is the Annual gift tax exclusion and do I need to do it?

The benefit of gifting the annual Gift Tax Exclusion is to move money out of your estate without estate tax.…

2 years ago

What is the FUTA Credit Reduction?

 The FUTA credit reduction is an extra % that is being collected for the Unemployment fund that all CA employers…

2 years ago

Last minute tax planning for 2022 and dates to remember in 2023

The end of the year is almost here, it is important to make any last minute tax moves now that…

2 years ago

IRS News-Penalty Relief for 2019 and 2020 tax returns

COVID tax relief: IRS provides broad-based penalty relief for certain 2019 and 2020 returns due to the pandemic; $1.2 billion…

2 years ago