Failure to pay federal income tax can have serious repercussions. Not only will the IRS likely charge you fines and interest on the unpaid balance, but the IRS may also enforce collection...
Posted by KLSM CPA Firm PLLC on 01/21/2021
The government recently agreed on the details of a $900 billion coronavirus bill attached to a $ 1.4 billion omnibus that will fund the government for fiscal 2021. Congress also voted...
Posted by KLSM CPA Firm PLLC on 01/12/2021
Loan and debt forgiveness are what many people wish for and to Uncle Sam, however, this is an income in which you must pay tax on. As a result, lenders must report such debts, provided...
Posted by ABLE Tax Resolution on 12/16/2020
The ever changing face of the economy makes every dime count. If you are looking to optimize on your savings, reduce your tax bill by finding a tax preparer like ABLE TAX RESOLUTION who...
Posted by ABLE Tax Resolution on 11/30/2020
On June 26, 2020, the Internal Revenue Service issued Notice 2020-51, which guides the exemption from required minimum distributions (RMD) for 2020 of certain pension plans under the...
Posted by ABLE Tax Resolution on 11/25/2020
The law qualifies taxpayers for deductions on donations to qualified organizations and organizations that qualify are nonprofit schools that exist solely for education purposes. The...
Posted by ABLE Tax Resolution on 11/20/2020
A lot of businesses find the adjustment to business loss limitation confusing. We hope this article will help shed some light on what it entails.Exploring The Excess Business Loss...
Posted by ABLE Tax Resolution on 11/09/2020
An opportunity zone is a community advancement program put in place by Congress as part of the TCJA 2017. Opportunity Zones aim to encourage long-term investment, especially in urban...
Posted by ABLE Tax Resolution on 10/31/2020
Nobody likes to owe money, and when you owe money to the Internal Revenue Service, it can be scary and confusing. The consequences can be very serious, so knowing what to do...
Posted by ABLE Tax Resolution on 10/22/2020
