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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 has announced that the amount individuals can contribute to their 401(k) plans in 2025 has increased to $23,500, up from $23,000 for 2024. The IRS today also issued technical guidance regarding all cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for [...]
All employers should be alert to a dangerous Form W-2 email scam. It's a threat to tax data and to your workers. These emails appear to come from someone in authority. They may say something like, "I'm analyzing some reports and need a copy of our W-2s for last year. Please send ASAP." Once the W-2s [...]
This article was published by the IRS. The Internal Revenue Service has issued a reminder that employers who offer educational assistance programs can also use them to help pay for their employees’ student loan obligations through Dec. 31, 2025. Though educational assistance programs have been available for many years, the option to use them to pay [...]
