Personal Finance
Updates for 1099-K Reporting Threshold for 3rd Party Platform Payments
The Internal Revenue Service announced a delay of the Form 1099-K reporting threshold for third party settlement organizations for calendar year 2023. As the IRS continues to work to implement the new…
Continue ReadingHave you Enrolled in Tax Caddy for Your Personal Return?
TaxCaddy is a software program designed to make gathering tax documents like 1099s, 1098s, and W-2s automatic and sharing them with Haefele Flanagan a breeze. But why take our word for it? Here are the…
Continue ReadingIRS Offers Tax Relief to Taxpayers Affected By Crisis in Middle East
The Internal Revenue Service is offering tax relief to individuals and businesses impacted by the unfolding crisis in the Middle East that has ensnared many Americans residing in or visiting the Holy Land…
Continue ReadingUpdates on Home Energy Tax Credits
Who Can Claim the Credits You can claim either the Energy Efficient Home Improvement Credit or the Residential Energy Clean Property Credit for the year when you make qualifying improvements. Homeowners…
Continue ReadingIRS Announces Change in Policy
In a major change in policy, the IRS will end most unannounced visits to taxpayers by agency revenue officers. The change reverses a decades-long practice by IRS revenue officers who make unannounced visits…
Continue ReadingIRS Offers Extra Time for Roth Catch-up Contributions
The Internal Revenue Service is giving people until 2026 to comply with a new requirement for Roth catch-up contributions. The IRS announced that it’s providing an administrative transition period that…
Continue ReadingHow Healthy Aging can Help you Save for Retirement
According to John Rampton, Founder and CEO of Due, a person’s health becomes increasingly important as they age. The reason? It is not uncommon for health problems to result in higher medical costs, lost…
Continue ReadingUpdates on 2023 Tax Filing Season
National Taxpayer Advocate Erin M. Collins released her statutorily mandated midyear report to Congress. The report analyzes the IRS’s effectiveness in processing original returns, amended returns, taxpayer…
Continue ReadingEstimated Quarterly Taxes due June 15th
The Internal Revenue Service reminds taxpayers who pay estimated taxes that the deadline to pay their second quarter tax liability is June 15th. Taxpayers may have to pay estimated tax if the amount of…
Continue ReadingUpdate to Form 1099-K Reporting Threshold
In late December 2022, the Internal Revenue Service announced a delay in reporting thresholds for third-party settlement organizations (TPSOs). As a result of the delay, the existing 1099-K reporting threshold…
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