IRS Increases Mileage Rate for Remainder of 2022
On June 9th, 2022, the Internal Revenue Service announced an increase in the optional standard mileage rate for the final…
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Social Security benefits: Do you have to pay tax on them?
Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government on…
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Partners may have to report more income on tax returns than they receive in cash
Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year,…
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Businesses: Prepare for the lower 1099-K filing threshold
Businesses should be aware that they may be responsible for issuing more information reporting forms for 2022 because more…
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Inflation enhances the 2023 amounts for Health Savings Accounts
The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSAs). High inflation rates will result…
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Businesses may receive notices about information returns that don’t match IRS records
The IRS has begun mailing notices to businesses, financial institutions and other payers that filed certain returns with information that…
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