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The IRS continues to urge taxpayers to create an online account.  An online account is a simple, safe, and secure way to access a myriad of tax-related information.  With potential IRS platform updates to come over the next few years, we expect the use of these online

The IRS has recently announced the 2023 tax year annual inflation adjustments for over 60 various tax provisions tied to inflation rates. Some items of most interest to taxpayers are as follows: Standard Deduction for Married Filing Joint increases to $27,700 (up $1,800), with the additional amount

The Social Security Administration has announced an increase in benefit income and the wage base used to calculate and assess Social Security tax (FICA) on wages and self-employment income. Recipients of Social Security Benefit income should see an increase in their benefit payment by 8.7%, the cost-of-living

Tax season is fast approaching, and now is the perfect time to start reviewing your tax situation before December 31st to avoid any surprises when filing your 2022 taxes next year. The IRS article below suggests reviewing your withholding and estimated tax payments to ensure you are

As one of the lowest flat taxes in the nation, beginning with the 2023 tax year, Arizona’s individual income tax rate will be 2.5%. Click this link below for the announcement from Governor Ducey’s office. If you have any questions as to how this may affect you

The State of Arizona recently enacted changes to the tax laws that went into effect September 24, 2022.  We have included an excellent resource prepared by Cavanagh Law Firm that summarizes the changes. With vacation and short term rentals on the rise, below is one item that

PPP and EIDL Loans The Federal government recently passed two bills to give the government more time to catch and prosecute fraud related to the Paycheck Protection Program (PPP) and COVID-19 Economic Injury Disaster Loans (EIDL). These laws extend the statute of limitations to 10 years after

When the IRS needs to ask a question about a taxpayer’s tax return, notify them about changes to their account, or request a payment, the agency often sends a letter or notice to the taxpayer through the United States Postal Service. First of all, don’t panic!  Review

The Inflation Reduction Act recently passed included several energy provisions.  The White House has also created a new webpage for taxpayers to learn about the available credits www.CleanEnergy.gov. The listing below provides a summary of the credits and their revision.  Accessing the website above can provide more