Posted on March 13, 2024 by
Luke Lucas
Professional athletes and entertainers, like most taxpayers, must learn to navigate the often-treacherous federal tax code and a broad range of differing tax laws at the state and local level that can increase their tax liabilities and eat into their hard-played earnings. For athletes and entertainers who travel across the country for games and performances, […]
Posted on February 22, 2024 by
Angie Adames
The IRS announced it is resuming mailing automated collections and reminder notices to taxpayers with outstanding tax liabilities from 2021 and earlier, a practice it suspended in 2022. In certain circumstances, the agency will waive failure-to-pay penalties that accrued in tax years 2020 and 2021 during the height of the COVID pandemic. It is estimated […]
Significant time has lapsed since Congress introduced new rules for partnership audits under the Bipartisan Budget Act of 2015 (BBA). However, with the benefit of an unprecedented additional $80 billion in funding, the IRS plans to ramp up its enforcement efforts in the years ahead. This will put a growing number of partnerships of all […]
You have a broad range of opportunities to save money during your working years so that you may afford a comfortable retirement in the future. Yet, with each type of retirement savings plan comes a unique set of rules and requirements, including procedures for paying taxes on your plan contributions and earnings. In the most […]