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Employers that want to use a per diem rate to reimburse employees’ lodging, meals, and incidental expenses on business trips within the continental U.S. (CONUS) can use either the IRS’s high-low m...

The approximately 70 million Social Security beneficiaries will receive a cost-of-living adjustment (COLA) of 5.9% starting with the December 2021 benefits, which are payable in January 2022. This is ...

A couple whose household income exceeded 400% of the federal poverty level had to repay the premium tax credit for 2018 (Amburgey, TC Memo 2021-124). They applied for medical insurance through the gov...

The National Taxpayer Advocate Erin M. Collins issued the required annual report to Congress detailing the past filing season and making recommendations for future legislation (IR-2022-11; https://www...

More than one in four (26%) of adults in the U.S. have some type of disability and this increases to two in five for adults age 65 and older. They may receive disability-related income from the govern...

The IRS posts FAQs to explain when costs can and cannot be reimbursed through health plans (https://www.irs.gov/individuals/frequently-asked-questions-about-medical-expenses-related-to-nutrition-welln...

The initial tax deadline, April 18th, 2023 has come and gone. BUT do not panic, filing an extension by April 18th and paying the estimated tax due minimizes penalties. What is an Extension? Taxp...

By Jaclyn Barkow, DBA, EA, CPA Taxpayers, who have yet to receive their Economic Impact Payments from COVID-19 relief efforts, are running out of time to do so. Originally, the Economic Impact Paym...

Crowdfunding is the practice of raising small amounts of money from a large number of people to fund specific projects or ventures. These activities can be personal, charitable, or business-related. A...

If you run your business through an S corporation and it produces losses, you can deduct them on your personal return only to the extent of your basis in the S corporation’s stock and debt. When it ...