2023 Tax Changes: IRS Announces Inflation Adjustment
Every year, the IRS issues tax changes to adjust to inflation. The tweaks are critical to prevent a “bracket creep” phenomenon that pushes taxpayers into a higher tax bracket. However,…
IRS Audits 2023: What You Need to Know
The IRS is getting into the 2023 season with an $80 billion funding boost. This measure, signed by President Joe Biden under the Inflation Reduction Act, aims to empower the…
Tax Debts in Georgia: How to Tackle Them and Find Peace of Mind
Picture this: you're basking in the warm, golden sunshine of the Peach State, relishing a well-earned respite from your bustling life. Unsettled by the lingering specter of overdue taxes in…
IRS 2023 Tax Laws Change: Alternative Minimum Tax What It and Who Has to Pay
The alternative minimum tax (AMT) is a different but parallel method for calculating your taxes. AMT applies to higher-income earners and aims to close loopholes that allow them to reduce…
IRS Overhaul Aims for a 10X Increase in Audit of Businesses and the Wealthy
The IRS is often a menace to working men and women. If you own a business or ticked the wrong withholding box, you may be on the tax man's hook…
Maximizing the Benefits of the New IRS Employee Limit for Small Businesses
Small businesses across the U.S are facing a lot of changes resulting from the recent updates from the Internal Revenue Service (IRS). One notable change is the increase in the…
The Reduced Child Tax Credit Mean Increased Tax Liability to Parents and Families
The expanded child tax credit is one of the most successful anti-poverty in history, according to data from the US Census. However, the government could not extend it past 2021.…
Why The IRS Is Now Focusing More on High-Income Taxpayers and What to Do About It
After years of being sorely underfunded, the IRS has finally received an allocation of $80 billion meant to boost its capacity under the Inflation Reduction Act. With this new funding,…
How to Navigate a Business Tax Debt Storm Like a Pro
Stepping into the murky waters of past-due business tax debt can feel like navigating a minefield. With the IRS's unyielding authority to impose crippling fines and seize assets, one could…
IRS Audit of Cryptocurrency: What to Expect
Has the Internal Revenue Service (IRS) chosen you for a cryptocurrency audit? This long, dreary procedure can be scary, especially if you're a first-timer. But you're not alone. The IRS…