(authored by RSM US LLP) Employers that understand SECURE 2.0's new requirements and the pros and cons of adopting optional provisions can implement the act effectively....
The tax treatment of business interest expense is governed by Section 163(j) which places limits on the amount of interest businesses can deduct on their tax returns based on their...
The banking industry is facing a number of significant changes in the coming year, with several important regulatory themes emerging. The Office of the Comptroller of the Currency, Federal Deposit...
The IRS issued Revenue Ruling 2023-02, which clarifies the treatment of assets in irrevocable grantor trusts for tax purposes. This ruling aims to curb potential abuse of the stepped-up basis...
If you earn income as a freelancer, independent contractor, or from a side gig, you'll likely do so as a sole proprietor or single-member LLC and report your income on...
Tax season is upon us again, and this time of year can be stressful for many taxpayers. Not only do you have to gather all your financial documents for your...
Once you get above a certain age, you start hearing about a magical thing called a credit score. You hear that everybody has one and that you need to do...
✅ Key Takeaways: Identity Verification Process with the IRSIRS identity verification letters are triggered by suspicious return patterns or inconsistencies in filing.Common triggers include changes in address, refund amounts, dependents,...