A Los Angeles County man was facing federal charges for allegedly running a tax refund scheme in which he sought more than $700 million in fraudulent refunds and caused a tax loss to the Internal Revenue Service of nearly $13 million, the U.S. Department of Justice announced Tuesday. Read more
Many gig workers, freelancers and small business owners don’t make their quarterly estimated tax payments, resulting in IRS penalties and interest. With the third-quarter deadline on Sept. 15 approaching, now’s the time to get ahead. Read more
Earning a six-figure salary is a milestone for many workers — but take-home pay can vary by thousands of dollars depending on where you live. Read more
In recent years, mortgages have become a significant financial tool for many Americans aspiring to own a home. While this facility has opened doors for numerous individuals, not everyone can access it. Once a mortgage is approved, it comes with the responsibility of a monthly payment, necessitating a stable income. However, challenges arise when certain…
Effective for the 2025 tax year (and set to expire after 2028), the recent “One Big Beautiful Bill Act” (“OBBBA”) enacted a new $6,000 deduction for seniors aged 65 or older. This is in addition to the existing standard deduction and the extra standard deduction available to individuals in this age group. For married couples…
A wave of state tax changes took effect on July 1, and depending on where you live, they could impact your monthly finances. From fuel and income tax adjustments to new sales tax exemptions and updates to the SALT deduction, these changes may affect everything from your take-home pay to the price you pay at…
The IRS is ramping up its scrutiny of “cash-only” businesses in 2025, renewing enforcement efforts aimed at industries known for limited electronic records and underreported income. Restaurants, barbershops, nail salons, convenience stores, and similar businesses could face increased audit activity, according to tax professionals closely following the agency’s shift. Read more
There’s been no shortage of controversy over the recent budget bill passed by Congress and signed by President Trump, who called it the One Big Beautiful Bill. While debate continues over funding cuts, national debt, and more, some changes could directly affect your wallet. Read more
How Taxpayers Can Avoid Severe Back Taxes In this video, we discuss the consequences of not filing previous years’ taxes, also known as back taxes. What can you expect from the IRS when you delay or fail to file your tax return? There are many consequences, and handling your back tax debt as soon as…
Underlying state budget and tax decisions this year was an undercurrent of uncertainty regarding the impact of federal legislation. Federal policy choices on tariffs, taxes and spending cuts will be deeply felt by the states, which will have less money available to fund key priorities. Read more
