Oct 16, 2023 | IRS, Tax Adjustment
Projected Annual Gap Rises to $688 Billion The IRS released new tax gap projections for tax years 2020 and 2021 showing the projected gross tax gap increased to $688 billion in tax year 2021, a significant jump from previous estimates. The new estimate reflects a rise...
Jul 30, 2021 | Tax Adjustment, Tax Deductions, Tax Withholding
The last thing anyone wants is to find out that the IRS is billing them for a couple of grand or that they owe a penalty. It is better to overpay and receive a return than pay too little and have another bill that burdens you. If you are worried about having too many...
Feb 22, 2021 | Tax Adjustment
The Internal Revenue Service provided greater flexibility, due to the pandemic, to employee benefit plans offering health flexible spending arrangements (FSAs) or dependent care assistance programs. Under the COVID-related Taxpayer Certainty and Disaster Tax Relief...
Dec 10, 2019 | Tax Adjustment
The Internal Revenue Service today announced the tax year 2020 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2019-44 provides details about these annual adjustments. The tax law...
