Recent Articles
Amending Your Tax Return: Form 1040-X and Deadlines
Discover how to correct errors and make amendments to your recent tax return using Form 1040-X. If you’ve identified errors or omissions in your 2022 tax return, there’s no need to worry. You can rectify these mistakes by filing Form...
IRS implements additional filters to combat identity theft and fraud.
2023 Tax-Filing Season Sees Increased Use of Filters and Successful Fraud Detection In its ongoing efforts to tackle identity theft and prevent the issuance of fraudulent refunds, the IRS has implemented nearly 70 additional filters for the 2023 tax-filing season....
Debt Limit Deal: Key Actions and Impacts
Biden and McCarthy have agreed to raise the debt ceiling and avoid default and economic uncertainty. President Joe Biden and Speaker of the House Kevin McCarthy have reached an agreement. This will raise the debt ceiling and avoid economic uncertainty....
House Republicans’ Tax Package: Changes and Challenges
Potential tax proposals focusing on R&D credits and 1099-K relief for online sellers are underway. House Republicans are getting ready to announce a tax package as the debt ceiling deadline approaches. The package could bring major changes to the tax...
Tax Cuts for Seniors and Corporations Emerge as Key Focus in New Jersey Budget Negotiations
State Lawmakers Propose Property Tax Cuts for Seniors, Possible Funding through Corporate Business Tax Surcharge Extension Tax cuts, particularly for seniors and large corporations, are poised to become a major point of contention in the final weeks of budget negotiations...
Senators Introduce Legislation to Raise Threshold for 1099-K Forms, Easing Tax Reporting Burden for Small Businesses
The Red Tape Reduction Act Aims to Reduce Paperwork and IRS Interference for Small Business Owners Senators Sherrod Brown and Bill Cassidy have introduced the Red Tape Reduction Act, seeking to modify a future tax rule that would require third-party...