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The U.S. Treasury is eliminating paper checks for federal tax refunds and payments, with further guidance on implementation expected before the 2026 filing season begins.[1] This change follows Executive Order “Modernizing Payments To and From America’s Bank…
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If you own a business or are self-employed, you are required to send an IRS Form 1099-NEC or a 1099-MISC to any individuals and most partnerships/LLCs that your company paid at least $600 to in 2025 for services.[1] Other common…
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A new tax bill proposal has been released, but the clock is still ticking. Currently, the federal gift and estate tax exemption is still scheduled to sunset on December 31, 2025.
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On March 2nd the Treasury Department announced suspension of enforcement of the Corporate Transparency Act against U.S. citizens and domestic reporting companies and states it will refocus the target companies for reporting. On March 21st, FinCEN issued an interim final rule essentially negating the
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The District Court in the Smith case has stayed the nationwide injunction halting enforcement of the CTA. FinCEN has stated that reporting companies who have not done so already, have until March 21 to file their BOI reports.
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If you lost your spouse in the last few years and have an estate size in excess of a few million or so, be sure you aren’t leaving significant estate tax savings on the table by missing the deadline to file for portability.
Meet with a knowledgeable attorney who specializes in your area of law.