This article was published by the IRS. During open enrollment season for Flexible Spending Arrangements (FSAs), the Internal Revenue Service reminds taxpayers that they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans through their FSA. For 2024, there is a $150 increase to the contribution limit for [...]
A project estimate is the beginning of the client relationship and is especially crucial to getting a construction project off the ground. Accurate job costing is needed to verify the financial viability and profitability of a project; it’s also a prerequisite to a successful bid. Accurate job estimates along with Work-in-Progress (WIP) reports shared with the [...]
Effective September 1, 2023, Massachusetts Division of Charities no longer accepts a paper copy of Form PC. They have a new electronic filing system on their website called the Charity Portal. This system does not interface with any professional tax preparation software and the entire Form PC will have to be manually entered by a third-party [...]
This article was published by the IRS. Taxpayers will have the option to go paperless for IRS correspondence by 2024 filing season, IRS to achieve paperless processing for all tax returns by filing season 2025 IRS paperless processing initiative will eliminate up to 200 million pieces of paper annually, cut processing times in half, and expedite [...]
This article was published by the IRS. As the old saying goes: When something sounds too good to be true, it probably is. Taxpayers with outstanding tax bills might be tempted by businesses who advertise and offer to help them reduce their tax debt. These businesses, often called Offer in Compromise mills, make huge claims about [...]
