Thomas SchornApr 30Required Distributions: Changes You Need to KnowThe Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 changed the rules for taking distributions from retirement...
Thomas SchornMar 10Watch Out for These Common Tax ScamsAccording to the Internal Revenue Service (IRS), tax scams tend to increase during tax season and times of crisis.1 Now that tax season...
Thomas SchornFeb 25Florida Internship Tax Credit ProgramThe Florida Internship Tax Credit is now available to be claimed by taxpayers for taxable years beginning on or after January 1, 2022....
Thomas SchornJan 27Stimulus check update: Look for IRS 6475 – are you owed moneyBe sure to keep an eye out for Letter 6475, Your Third Economic Impact Payment from the IRS. This letter will help you determine if you...
Thomas SchornJan 25Reasons Some Non-Filers Should File This YearWith tax time's arrival, those Americans who don't normally have to file an income tax return usually think their circumstances mean they...
Thomas SchornJan 13Salt Tax Limitations Work AroundFor tax years 2018 through 2025, the Tax Cuts and Jobs Act of 2017 (TCJA) limits individual itemized deductions for state and local...
Thomas SchornNov 18, 2021Year-End Charitable GivingWith the holiday season upon us and the end of the year approaching, we pause to give thanks for our blessings and the people in our...
Thomas SchornNov 13, 2021RMD Roundup: A Few Key Updates About Required Minimum DistributionsAs we approach the end of 2021, now might be a good time to take a closer look at a few developments surrounding required minimum...
Thomas SchornSep 18, 2021Current Tax Draft LegislationOn September 13, 2021, the House Ways and Means Committee released draft legislation that proposes a series of tax increases and tax...
Thomas SchornSep 18, 2021Hurricane IDA State of Emergency Tax Deadlines For Pennsylvania ResidentsTaxpayers required to file returns with an original or extended due date on or after August 31, 2021, and before January 3, 2022, with an...
Thomas SchornSep 16, 2021New Proposal for IRS Reporting of Consumer Personal Account TransactionsThe Bank Secrecy Act (BSA) requires financial institutions to report to the IRS transactions exceeding $10,000 or multiple transactions...
Thomas SchornSep 14, 2021Tax Proposal CommentaryI did not mean to start this blog blast like a Lemony Snicket novel, but September could prove to be a Series of Unfortunate Events,...
Thomas SchornJul 29, 2021Child Tax Credit 2021: Payments, eligibility, and opting outWith the IRS now sending advanced monthly payments of the 2021 Child Tax Credit (CTC) to qualified families, it’s important to know the...
Thomas SchornJul 27, 2021New Global Tax Accord Takes ShapeAfter more than four years of international negotiations taking place mainly behind the scenes, 132 countries recently agreed to a new...
Thomas SchornMay 28, 2021Cryptocurrency and the IRSPublic fascination with cryptocurrency tends to follow dramatic gains and losses in the market. Dramatic losses usually result in pundits...
Thomas SchornMay 26, 2021Monthly Payment of Refundable Child Tax Credit Start SoonA provision of the American Rescue Plan is being readied for action, targeting nearly 90 percent of American households with children to...
Thomas SchornMay 2, 2021Considering Solar Energy - Tax CreditsIf you're thinking about installing solar energy – at your home or your business – federal tax credits are available for investments in...
Thomas SchornApr 23, 2021Enhanced Child Tax Credit for 2021If you have qualifying children under the age of 18, you may be able to claim a child tax credit. (You may also be able to claim partial...
Thomas SchornApr 23, 2021Tax Credit Available to Employers Providing Paid Time Off for COVID VaccinesOn Wednesday, President Biden announced a tax credit available to small and mid-size employers that offer paid time off for their...
Thomas SchornApr 13, 2021Where's My RefundAre you a little impatient when it comes to your refund status. The good news is that the IRS “Where’s My Refund?” tool makes it easy for...