President Biden has released his proposed budget for the federal government for the 2024 fiscal year. The budget, which aims to cut the deficit by nearly $3 trillion over 10 years, includes numerous provisions that would affect the tax bills of...

The Internal Revenue Service (IRS) is once again reminding taxpayers to carefully review the Employee Retention Credit (ERC) guidelines before trying to claim the credit as promoters continue pushing ineligible people to file. An initial warning abou...

Depending on the size of your closely held business, estate taxes can be a significant burden when you pass ownership from one generation to the next. Fortunately, the current tax code provides some relief, allowing eligible estates to defer the paym...

The Internal Revenue Service (IRS) and the Department of the Treasury recently announced final regulations updating the rules for electronically filing returns and other documents, known as e-filing. The regulations contain changes made by the Taxpay...

To help taxpayers navigate the beginning of the tax filing season, the Internal Revenue Service (IRS) offered a checklist of reminders for people as they prepare to file their 2022 tax returns.  1. Gather tax paperwork and records for accuracy to ...

The Internal Revenue Service (IRS) announced it opened the 2023 individual income tax return filing season on January 23. That’s when the agency began accepting and processing 2022 tax year returns. Even if you typically don’t file until much clo...

The Inflation Reduction Act (IRA), signed in August 2022, expanded an energy-efficiency tax deduction giving tax-exempt organizations more negotiating power with taxpayers who build their commercial buildings.  About the Section 179D Deduction This ...

Restaurants and other hospitality and tourism businesses in Texas who were negatively impacted by COVID-19 will have another opportunity to apply for a grant of up to $20,000 from the Texas Travel Industry Recovery Grant Program (TTIR), beginning on ...