In December 2022, President Biden signed the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act. Among other things, the sweeping new law made some significant changes to so-called catch-up contributions, with implications for...

On July 3, 2023, Governor Mike DeWine signed into law the Ohio Biennial Budget Bill, bringing sweeping changes to businesses and individuals in the state.  Commercial Activity Tax (CAT) For the last 18 years, the Ohio CAT has been a $1 million annua...

In the latest slew of news and updates from the IRS, the organization also recently announced that interest rates will increase for the calendar quarter beginning Oct. 1, 2023.  For individuals, the rate for overpayments and underpayments will be 8%...

The IRS has announced tax relief will be provided to individuals and businesses impacted by Hurricane Idalia in areas of Florida. Taxpayers who live or own a business within any of the disaster areas designated by the Federal Emergency Management Age...

With the new school year kicking off, the IRS recently issued a reminder to eligible educators to deduct out-of-pocket classroom expenses up to $300 when filing their federal income tax returns next year. Married taxpayers filing jointly with another...

Governor Greg Abbott signed legislation on Aug. 9, 2023, delivering the largest property tax cuts in Texas history. The $18 billion property tax relief package includes provisions such as:   Increasing the homestead exemption from $40,000, to $100,...

The IRS and its Security Summit recently issued a warning for taxpayers to be vigilant against a surge of summer tax scams, as scammers continue to send mass emails and text messages to unsuspecting victims in an attempt to steal money and/or their i...

The IRS has issued new guidance providing transitional relief related to recent legislative changes to the age at which taxpayers must begin taking required minimum distributions (RMDs) from retirement accounts. The guidance in IRS Notice 2023-54 als...