News & Insights

The Internal Revenue Service reminds taxpayers who pay estimated taxes that the deadline to pay their third quarter tax liability is September 15th. Taxpayers may have to pay estimated tax if the amount…

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…

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…

Valuing a business is one of the most important tasks for business owners and yet, many business owners have no idea of the true value of their company. A business valuation determines the fair market…

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…

The Corporate Transparency Act (CTA), ratified into law on January 1, 2021, advances the agenda of deterring criminals from infusing their illicit funds into the U.S. financial system. What is the Corporate…

The City of Philadelphia announced a Wage Tax rate decrease for workers that live in the city starting July 1, 2023. The new Wage Tax rate for residents of Philadelphia is 3.75% (.0375), down from 3.79%…

All-electric, plug-in hybrid, and fuel cell electric vehicles purchased new in 2023 or after may be eligible for a federal income tax credit of up to $7,500. The availability of the credit will depend…

Many business owners *think* they know the value of their business, so they don’t engage in a formal valuation exercise until one of their advisors tells them that it’s needed to satisfy a particular requirement…

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…