News & Insights

The estate tax, often referred to as the “death tax,” has long been a contentious issue in U.S. tax policy. Currently, the estate tax exemption allows individuals to transfer a significant amount of wealth…

Selling your home at a high price can be lucrative, but it may also come with tax implications. The IRS might require you to pay capital gains taxes on the profit you earn from the sale. Here’s a detailed…

In a unanimous decision issued on June 6, 2024, Justice Thomas ruled in favor of the Internal Revenue Service (IRS) on Estate of Connelly v. United States. The ruling held that life insurance proceeds…

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…

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…

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…

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…

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…

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…

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,…