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IRS reminds retirees to take required minimum distributions by December 31, 2024

As the year draws to a close, the IRS is reminding retirees aged 73 and older about the importance of withdrawing their Required Minimum Distributions (RMDs) from retirement accounts by ...

Get ready for 2025 tax filing: Essential IRS updates and tips

As the 2025 tax season approaches, the IRS has rolled out key updates and tools to help taxpayers prepare effectively. Staying ahead of these changes can save you time and stress while ensuring compliance with federal tax laws. Here’s a breakdown of the most important updates and reminders for this year. IRS u...

Beware of the "pig butchering" scam: a growing threat to your privacy and finances

Evelyn, a 50-year-old navigating Los Angeles' tough dating scene after heartbreak, met Bruce, a charming, well-dressed man on Hinge. Their online romance deepened, but Bruce revealed a darker motive – convincing Evelyn to invest $300,000 in a fake crypto scheme. Later Evelyn discovered Bruce was just a ghost, part of a global fraud ...

How to change your name after marriage with the IRS: A guide to avoid tax season woes

Disclaimer This article is for informational purposes only and does not constitute legal advice. Always consult with a tax professional for your specific circumstances. Ma...

Federal court blocks nationwide enforcement of Corporate Transparency Act (CTA)

Overview: A major setback for the Corporate Transparency Act On December 3, 2024, a federal court in Texas issued a landmark ruling prohibiting the enforcement of the Corporate Transparency Act (CTA) across the...

IRS announces inflation-adjusted tax penalties for 2025

The IRS has announced new inflation-adjusted tax penalties for 2025, impacting taxpayers, businesses, and tax professionals who file or pay taxes late or submit incorrect information. These penalties – part of the IRS’s enforcement strategy to maintain compliance – are outlined for the upcoming tax season and emphasize...