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Because of a change in tax law, some online sellers may soon receive a tax form that few have seen before, a 1099-K. A law requires online marketplaces to send out a Form 1099-K for sales of $600 or more. Most casual sellers will not owe taxes on the sales, but that’s not always clear....Read More

The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. The IRS today also issued technical guidance regarding all of the cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2023 in Notice...Read More

The Internal Revenue Service today announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2022-38 provides details about these annual adjustments. New for 2023 The Inflation Reduction Act extended certain energy related tax breaks and indexed for inflation the energy efficient...Read More

Make sure to be on time. We are accepting walk-ins today from 9:00 AM to 7:00 PM source: IRS.govRead More

The Internal Revenue Service reminds taxpayers who requested an extension to file their 2021 tax return to do so by Monday, October 17. No one should pay any more tax than they absolutely have to. Trimming your tax bill can be accomplished by claiming every tax break for which you’re eligible. This includes a variety...Read More

California Middle Class Tax Refund payments go out starting Today: Friday. See how much you’ll get! $9.5 billion in Middle Class Tax Refund payments will begin going out to Californians, with refunds of up to $1,050 that will benefit millions of eligible Californians under the largest such program in state history. Governor Newsom on Middle Class Tax...Read More

The Internal Revenue Service reminds taxpayers who’ve yet to file their 2021 federal income tax return to make sure they take advantage of the deductions and credits for which they’re entitled and to file as soon as possible. “Each year, eligible taxpayers overlook money saving deductions and credits that can help them with the cost of raising...Read More