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On July 4, President Donald Trump signed the One Big Beautiful Bill Act (“OBBB”) into law after the Senate and House passed the bill on July 1 and July 3, respectfully.

On July 4, President Donald Trump signed the One Big Beautiful Bill Act (“OBBB”) into law after the Senate and House passed the bill on July 1 and July 3, respectfully.

Tax season can be stressful, but it becomes even more challenging when scammers try to take advantage of unsuspecting people.

Since Dec. 9, business taxpayers have been able to view their account status online through the OH|TAX eServices system.

Following a letter from the American Institute of CPAs, the Internal Revenue Service announced on Oct. 1 that it would grant disaster tax relief for all individuals and businesses affected by Hurricane Helene.

A change to the Veterans Auto and Education Improvement Act of 2022 will affect military members and their spouses by giving them options to claim residency for tax purposes.

On Wednesday, the Internal Revenue Service announced it will increase the amount individuals can contribute to their 401(k) plans in 2024.

Many of our clients who live in the Southwest Florida region, as well as North and South Carolina, were affected by Hurricane Ian.

On Oct. 5, 2022, the IRS published IR-2022-173, which allows hurricane victims in those states an extension of time to file their 2021 income tax returns until Feb. 15, 2023. This meant that if a valid extension was granted for your individual tax return through until Oct. 17, 2022, you had until Feb. 15. The affected states have followed the same stance as well.

A new year ushers in many changes for the Internal Revenue Service, but one massive problem will not go away – backlogs.

While the IRS still must deal with a backlog of mail and a backed-up phone system that leaves taxpayers and practitioners on hold and frequently drops the call, changes are in the works. Among them are a potential new commissioner (Danny Werfel was nominated for the role in November 2022) and an increased budget that will give the IRS billions of dollars to spend, although it has less than two months left to develop a spending plan.

 $1.2 billion in penalties will be refunded to 1.6 million taxpayers

In late August, the Internal Revenue Service announced on its website that it had issued Notice 2022-36, which will provide penalty relief to most taxpayers who filed certain 2019 or 2020 tax returns late.