When Times Are Hard and the IRS Comes Knockin’ (or Mailing Notices…)
There are a few situations in life that instantly give you that feeling of sickness in the pit of your stomach. For example, when you are...
New IRS Commissioner Coming Soon?
Last week, the White House signaled that they intend to nominate Danny Werfel to become the new commissioner of the IRS. Mr. Werfel...
Student Debt Cancellation, again…
Another week, more news about student debt cancellation. Last week a federal judge in Texas determined that the relief plan from...
Business vs. Hobby: How to Tell the Difference
Say you just got your new Cricut and want to start making shirts, cups, etc., on it, and someone comes up and says, “Wow, I love your...
The Wash Sale Rule
As we get closer to the end of the year, many people start looking for ways to minimize their tax liability. One popular way is by...
The Tax Law Is Changing
President Biden’s Fiscal Year 2023 Budget includes several tax law changes. These changes include an increase in both personal and...
Federal Reserve to Meet Again, Interest Hike Expected
The Federal Reserve is scheduled to meet this week, and the most likely thing to come from that meeting is the announcement of another...
1099-K Reminder for Tax Year 2022
For taxpayers that earned $600 or more from selling goods or providing services, you will likely get a 1099-K this year. Last year you...
New Tax Brackets For Tax Year 2023 Released
Last week the IRS announced inflation adjustments for the tax year 2023 that would apply to returns in 2024. Marginal Rates for the tax...
Senator Wyden Releases IRS Expectations
In August of 2022, President Biden signed into law the Inflation Reduction Act, part of which provided the IRS with $80 billion over a...
