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A 2018 survey conducted by FINRA showed that 71 percent of people thought they were financially literate, but couldn’t answer basic financial questions. While doctors

Article Highlights: IRS Identity Verification Access to Online Tools and Applications About ID.me How to Create an ID.me Account In November of 2021, the Internal

Article Highlights: 1099-NEC Filing Requirements Independent Contractor Filing Threshold Form W-9 Form 1099-MISC If you use independent contractors to perform services for your business, for

Article Highlights: Definition of Tax Basis Cost Basis Adjusted Basis Gift Basis Inherited Basis Record Keeping  For tax purposes, the term “basis” refers to the

Article Highlights: 2021 RMD   What Are RMDs? Age 72 Distributions IRAs and Qualified Plans  Computing the RMD Required Minimum Distributions (RMD) are required taxable distributions

In September of 2021, the Congressional Budget Office announced a proposal to increase funding for the Internal Revenue Service by as much as $80 billion

Article Highlights:  Employee Retention Credit Infrastructure Investment and Jobs Act Retroactive Repeal of 4th Quarter Employee Retention Credit Advance Payments 4th Quarter Employment Tax Deposits

Article Highlights: IRS Compliance Campaign New Reporting Requirement for Crypto Exchanges Form W-9 Form 1099-B Cryptocurrency as Property Digital Assets Definition Transfer Reporting Cash Transaction

Article Highlights:  Increased Standard Deduction Tax-Exempt Income Impairment-Related Work Expenses Financially Disabled  Earned Income Tax Credit Child or Dependent Care Credit Special Medical Deductions Qualified

Article Highlights:  Long-Form Itemization Required Below-the-Line Cash Contributions for 2021  Qualified Charities Only Cash Donations Non-cash Donations Leave Donations Other Qualifying Donations AGI Limitations Year-End