News & Insights
Update on Employee Retention Credit Claims
The IRS has announced that most of the remaining Employee Retention Credit (ERC) claims are likely fraudulent or erroneous, leading to the impending denial of tens of thousands of these claims. The ERC…
Continue ReadingBlog: Five Steps to Plan your Business Exit
Some business owners mistakenly believe that selling their company is a quick process, similar to a running a sprint. However, selling a business is more like a marathon, requiring significant time and…
Continue ReadingIRS Warns of New Tax Scams Spread by Social Media
The Internal Revenue Service issued a consumer alert following ongoing concerns about a series of tax scams and inaccurate social media advice that led thousands of taxpayers to file inflated refund claims…
Continue ReadingIRS Announces Increased HSA Amounts for 2025
The Internal Revenue Service (IRS) has adjusted the Health Savings Account (HSA) amounts for 2025. Here are the key changes: Individual Coverage: Family Coverage: The $1,000 “catch-up” additional contribution…
Continue ReadingReminder: 2nd Quarter Tax Estimates Due June 17th
The Internal Revenue Service reminds taxpayers who pay estimated taxes that they have until June 17th to make their payment for the second quarter of tax year 2024 without penalty. You may send estimated…
Continue ReadingBlog: Sustainable Growth for Small Businesses: Staying on Target
Entrepreneurs know first-hand the challenges that small businesses face in achieving sustainable growth. One of the advantages we have at Haefele Flanagan as a trusted advisor is “perspective”, being…
Continue ReadingImpact of IRS Rule Changes on Inheritance Taxes
The Internal Revenue Service (IRS) has recently made significant changes to the tax rules concerning inheritances, potentially affecting how Americans transfer assets to their children. These changes,…
Continue ReadingBlog: Five Power Ratios to Start Tracking Now
Baseball’s leadoff batters measure their “on-base percentage” – the number of times they get on base – as a percentage of the number of times they get the chance to try. In hospitals, staff-to-patient…
Continue ReadingWhere’s My Refund?
With millions of tax refunds going out each week, the Internal Revenue Service shared that recent improvements to Where’s My Refund? on IRS.gov remains the best way to check the status of a refund. The…
Continue ReadingPA’s Child and Dependent Care Enhancement Tax Credit Expanded for 2023
Last year, the Child and Dependent Care Enhancement Tax Credit delivered critical relief to roughly 210,000 families in Pennsylvania. Research has shown that a similar tax credit on the federal level…
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