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IRS to End Paper Checks for Tax Refunds: What You Need to Know for 2025
The U.S. Treasury has announced a major change that will impact how millions of Americans receive their federal tax refunds. Beginning September 30, 2025, the Treasury will no longer issue…
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U.S. Treasury to End Acceptance of Paper Checks for Federal Payments After September 30, 2025
The U.S. Treasury has announced a major change: after September 30, 2025, paper checks will no longer be accepted for federal payments, including tax payments. This move is part of…
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IRS Offers Free Compliance Training for Exempt Organizations
By Federal Tax Update Staff at Thomson Reuters The IRS has a free online workshop that can help tax-exempt organizations stay exempt. Participants will learn the benefits, limitations and expectations…
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2023 Q1 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may…
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Inflation means you and your employees can save more for retirement in 2023
How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to…
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2022 Q4 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may…
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How do taxes factor into an M&A transaction?
Although merger and acquisition activity has been down in 2022, according to various reports, there are still companies being bought and sold. If your business is considering merging with or…
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Businesses: Prepare for the lower 1099-K filing threshold
Businesses should be aware that they may be responsible for issuing more information reporting forms for 2022 because more workers may fall into the required range of income to be…
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Businesses may receive notices about information returns that don’t match IRS records
The IRS has begun mailing notices to businesses, financial institutions and other payers that filed certain returns with information that doesn’t match the agency’s records. These CP2100 and CP2100A notices…
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Important tax aspects of operating your business as a sole proprietor
If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax aspects of your venture. Here are…
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