Those who use digital assets may be wondering what their reporting requirements are come tax filing season. This 75-minute IRS webinar covers both existing and new reporting requirements so you can get all your questions answered. If you have any additional questions, please reach out to our office and we'll walk you through the answers.
This article was published by the IRS. The Internal Revenue Service is making it easier for taxpayers to protect their information and avoid refund delays by accepting certain e-filed tax returns that claim dependents who have already been claimed on another taxpayer’s return. This change will benefit filers claiming important tax credits like the Earned Income [...]
Each year, the Massachusetts Department of Revenue gives a filing season video update presentation for the tax year. This video provides the update for tax year 2024. It includes valuable tax information such as recent legislative changes and DOR initiatives, what's new on 2024 forms and schedules, helpful hints, updates to popular credits, and how to [...]
This article was published by the IRS. The Internal Revenue Service is reminding those aged 73 and older of the deadline to take required minimum distributions from individual retirement arrangements (IRAs) and other retirement plans, and highlighted updates introduced by the SECURE 2.0 Act. Required minimum distributions (RMDs) are amounts that many retirement plan and IRA [...]
This article was published by the IRS. The Internal Revenue Service reminds taxpayers that during open enrollment season for flexible spending arrangements (FSAs) they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans. An employee who chooses to participate in an FSA can contribute up to $3,300 through [...]
