IRS Raises 2023 Estate-Tax Exclusion to $12.92 Million, Up from $12.06 Million
The IRS, on 18th October 2022, announced that up from $12.06 million in 2022, individuals may transmit up to $12.92 million in 2023 to heirs ...Read More
IRS Interest Rates Jump from 6% To 7%, Here’s What You Need To Know!
The Internal Revenue Service, on 30th November 2022, announced an increase in the interest rates for the quarter beginning on 1st ...Read More
IRS Announces New Tax Brackets ~ What You Need To Know
The IRS recently announced an increase in the income thresholds for all brackets for the income tax year 2023 (returns filed ...Read More
IRS Raises the 401(K) Contribution Limits; Workers Can Now Defer $22,500 Into Their Employer Plans in 2023
The Internal Revenue Service, in its latest announcements, has shed light on the increased limits on the annual 401(k) plan ...Read More
IRS Updates Form 941, Schedules, Instructions, for First Quarter 2022
On February 28, the IRS released: • The revised 2022 Form 941, Employer’s Quarterly Federal Tax Return, and its instructions • The instructions for ...Read More
IRS reminds taxpayers to report gig economy income, virtual currency transactions, foreign source income and assets
The Internal Revenue Service reminds taxpayers of their reporting and potential tax obligations from working in the gig economy, making ...Read More