Recent Posts
Four Popular Tax Credits Could Soon Carry A New Refund RequirementAugust 24, 2026 - 7:11 pmThe Treasury Department and IRS have proposed an eligibility test affecting four widely used individual tax credits. The change would apply only when a credit produces money beyond the taxpayer’s federal income tax liability—and one filing detail could determine whether that additional amount is paid.
Moving Retirement Money Could Soon Get Easier Under New IRS GuidanceAugust 17, 2026 - 5:36 pmThe IRS is proposing a more standardized way to move retirement savings between employer-sponsored plans and IRAs, potentially reducing paperwork and uncertainty for workers changing jobs or consolidating accounts. But one important element of the new rollover process could make a meaningful difference for plan participants and administrators.
Expanded Paid-Leave Tax Credit Gives Employers More Ways To QualifyAugust 10, 2026 - 6:07 pmNew IRS guidance explains how businesses can benefit from the permanently expanded federal tax credit for paid family and medical leave, including broader employee eligibility and a new insurance-premium option.
IRS Introduces Automatic Penalty Relief For Taxpayers With Strong Filing HistoriesAugust 3, 2026 - 5:12 pmA new IRS program will automatically prevent certain filing and payment penalties for taxpayers with a record of meeting their obligations—eliminating the need to request relief in many cases.
IRS Eyes Charitable Donation Abuse In New Audits, Tax Pros SayJuly 27, 2026 - 9:03 pmThe IRS is increasing audits of non-cash charitable donations, with tax professionals reporting greater scrutiny of asset valuations, appraisal requirements and technical filing rules as the agency broadens enforcement beyond conservation easements.
Nine Reasons The IRS Could Take Your Tax RefundJuly 20, 2026 - 6:56 pmA tax refund isn’t always guaranteed to reach your bank account. Here’s a list of reasons why the IRS may legally withhold or offset your refund—and what you can do if it happens.
Your First Required IRA Withdrawal At 73 Can Push You Past The IRMAA Cliff For A Full YearJuly 13, 2026 - 6:02 pmTurning 73 brings an important retirement decision: when to take your first required minimum distribution (RMD). Waiting until April 1 of the following year may seem convenient, but it can result in two RMDs landing in the same tax year, potentially increasing your income and triggering higher Medicare premiums through IRMAA.
Trump Account vs 529: Which Is More Beneficial For Children?July 6, 2026 - 6:41 pmWhile the new newborn investment program known as Trump Accounts provides another savings option, financial experts caution it should not be viewed as a replacement for a 529 college savings plan designed to help save for education. Experts say the two accounts can complement each other rather than compete.
Great Savers Could Face A ‘Tax Time Bomb’ In Retirement, Advisor Says — Here’s How To Avoid It
Starting in 2023, Secure 2.0, a $1.7 trillion legislative package signed by President Joe Biden in December 2022, raised the age that savers must start taking required minimum distributions, or RMDs, to 73. RMDs are typically tied to pre-tax retirement accounts, which incur regular income taxes for withdrawals. Those RMDs could push some retirees into a higher tax bracket.
Five Common Errors To Fix In Your IRA Before The IRS Flags Them
You might receive IRS Form 5498 for the previoous year if you had reportable deposits for your IRA, such as regular IRA and rollover contributions, and Roth IRA conversions. The form provides the basis for auditing such IRA activities and helps you to identify and fix related errors before the IRS flags them.
The Biden Administration Finalized A Controversial New Retirement Rule — Here Are 5 Things You Need To Know Now
The Biden Administration has stepped in to give investors more protection from conflicts of interest. The recently finalized Retirement Security Rule is aimed at ensuring financial professionals actually work for the clients they serve. This rule isn’t without controversy, though, as some argue it could actually make getting help harder.