Payroll January 18, 2025
Should You Actively Trade in a Roth IRA?
Day trading in a Roth IRA is perfectly legal, but it may not be financially wise.
Taxes February 13, 2023
New Law Encourages Roth 401(k) Accounts
For 2023, a participating employee can contribute up to $22,500 in elective deferrals or up to $30,000 if they are age 50 or over.
Taxes February 13, 2023
How the Tax Code Can Help Investors Keep Their Real Estate Wealth Stable During Retirement
To leverage a 1031 exchange, an investor has to ensure the income from a real estate investment property sale is reinvested (or “exchanged”) in like-kind property.
Taxes February 13, 2023
IRS Says State Issued Stimulus Payments are Not Taxable
The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns.
Taxes February 10, 2023
Taxpayer Advocate Rips IRS for Delay in California Tax Issue Ruling
The IRS is trying to decide whether aid payments to taxpayers in more than a dozen states should be taxable.
Taxes February 10, 2023
IRS: Taxpayers E-Filing Amended Returns Can Now Get Their Refunds Direct Deposited
Anyone e-filing Form 1040-X can for the first time select direct deposit and enter their banking info for a faster refund.
Accounting February 9, 2023
Southwest Airlines Gives Refunds to 270,000 Travelers for Holiday Meltdown
“Anything that was well documented and under $4,000 our representative approved on the spot,” Southwest Airlines Chief Operating Officer Andrew Watterson told reporters.
Accounting February 9, 2023
Southern Illinois University Wins 21st Annual Deloitte FanTAXtic National Case Study Competition
This year's case challenged teams to rank investors best suited for a business venture as well as consider tax or non-tax scenarios the investor should consider.
Taxes February 8, 2023
Don’t File Your Returns Yet, IRS Tells Millions of Taxpayers
The issue comes with stimulus payments paid by some states in the last year, which has led to tax questions.
Taxes February 8, 2023
AICPA Sends Tax Proposals to Lawmakers
The 61 recommendations in the compendium include proposals related to employee benefits, individual income tax, international tax and tax administration, among others.
Taxes February 8, 2023
IRS Chief Counsel’s Office Has Open Tax Attorney Spots It Wants to Fill
The IRS is hiring tax attorneys to help enhance the taxpayer experience and address noncompliance.
Payroll February 8, 2023
Oklahoma Man Pleads Guilty to Employment Tax Scheme
Pleaded guilty to filing a Form 941 for the first quarter of 2016, but not paying over approximately $31,010 in taxes withheld from employees’ paychecks.
Taxes February 6, 2023
IRS Working on 1099 Guidance for Middle Class Tax Refund in California
The agency previously said it was working on guidance for 19 states that provided refunds of some form in 2022.