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IRS AEP 2026: Automatic Penalty Relief and the Reasonable-Cause Tradeoff
The IRS Automatic Exemption from Penalty program can prevent certain filing, payment, and deposit penalties from being assessed for eligible taxpayers. Here is what small businesses should check.
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Got IRS Mail? Open It, Match It, Calendar It, Then Decide Whether to Respond.
IRS mail is not a verdict. It is a workflow. That distinction matters because many taxpayers make the same mistake: they let the envelope sit unopened, then deal with the problem only after penalties, interest, or collection notices have already escalated. IRS Tax Tip 2026-39 is a basic reminder, but it is a good one.…
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IRS Enforcement in 2026: The Quiet Shift to Automated Compliance
If you hear from the IRS in 2026, the odds are high it won’t be from a person. It will be a computer-generated letter triggered by a data mismatch, sent before any examiner has looked at your return. That shift is the single most important thing small business owners and self-employed taxpayers need to understand…
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Understanding Tax Reporting Requirements for Online Sweepstakes Operators
Corrected July 29, 2026: The prior version stated the former $600 threshold. For qualifying 2026 prize payments, the federal Form 1099-MISC reporting threshold is $2,000. This correction also addresses the IRS Information Returns Intake System transition, foreign-recipient scope, and the fact-specific distinction between prizes that do and do not involve a wager. The reporting threshold…
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Welcome to Tax Season 2024
The tax filing season has officially commenced! With the IRS now accepting and processing 2023 federal individual tax returns, it’s time to dive into the paperwork. But fear not, dear taxpayers, for this year promises a more streamlined experience, complete with extended support and improved tools to ease your journey through the tax forest.
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Navigating BOI Reporting: A Guide for Small Business Owners
Update (April 2026): FinCEN ruled on March 26, 2025 that all domestic entities (U.S. corporations, LLCs, and partnerships) are exempt from Beneficial Ownership Information (BOI) reporting. The filing requirements and penalties described in this article no longer apply to domestic companies. Foreign entities should check current FinCEN guidance. Read our full update here. BOI Reporting…
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Inflation Reduction Act: A Comprehensive 1-Year Report Card
Update (April 2026): The Inflation Reduction Act clean energy provisions discussed in this article have been significantly modified by the One Big Beautiful Bill Act (July 2025). EV tax credits were terminated for vehicles acquired after September 30, 2025, and other clean energy incentives were altered. Check current guidance before relying on these provisions. The…
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Securing a Strong Retirement Act of 2022 (SECURE 2.0)
Update (April 2026): The SECURE 2.0 provisions described as “upcoming” or “starting in 2025” in this article are now in effect. Contribution limits and thresholds have been updated since publication. Check current IRS guidance for the latest figures. The Securing a Strong Retirement Act of 2022 (SECURE 2.0) is a comprehensive legislation designed to strengthen…
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Ever Wondered How Your Tax Professional Manages Your Tax Affairs? Enter the Tax Pro Account
As a taxpayer, you may wonder how tax professionals handle your tax affairs and communicate with the IRS on your behalf. The IRS has a solution for that: the Tax Pro Account. This online service is available to tax professionals who represent clients before the IRS, allowing them to access their clients’ tax information and…
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Small Transactions, Big Impact: How the New 1099-K Rules Affect You
Discover how the new 1099-K rules will impact online sellers in 2023. Learn what you need to know and how to stay compliant in our latest blog post.
