A recent federal court ruling, Kwong v. United States, has opened a potential window for taxpayers to recover certain IRS penalties and interest tied to the COVID-19 pandemic. If you paid failure-to-file or failure-to-pay penalties during that period — or have unpaid assessed amounts — you may be eligible for a refund or abatement. The […]
Tax Tips for Individuals
What to Do if You Receive IRS Notice CP53E
The IRS is sending Notice CP53E to some taxpayers who had a balance due on their 2025 returns — and it’s causing understandable confusion. The notice asks for bank account information so the IRS can issue a refund via direct deposit. The notice is also going out to taxpayers who are expecting a refund but […]
Tax Preparer or Financial Advisor: What Does Your Family Really Need?
Most families assume they just need someone to prepare their taxes each year. But if you’re only working with a tax preparer, you may be missing the financial guidance that could transform your family’s future and build lasting security. What’s the difference between a tax preparer and a financial advisor? A tax preparer focuses on […]
Love and Money: Must-have Financial Conversations for Engaged Couples
Spring weddings are in full bloom, and May is one of the most popular months to tie the knot. For engaged couples, the to-do list seems endless. But between choosing flowers and finalizing a menu, there’s one critical conversation that many future grooms and brides-to-be avoid: Money. Talking about finances early on can set the […]
Self-Employment Tax Planning: Start Now or Pay Later
Working for yourself can be great, but it can also be quite… taxing. Being your own boss comes with incredible perks — like working where you want and when you want — but the tax side of things can be a bit more complex than when you had an employer handling everything. To help avoid […]
What Happened to Your State and Local Tax Deductions?
New limits on state and local tax (SALT) deductions have created some serious tax planning challenges for many of our clients. These limits are responsible for increasing tax bills for millions of Americans. And even if you’ve never heard of SALT deductions, you’ve probably still felt the impact, especially if you live somewhere with high […]