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Tax News
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IRS provides relief to Hurricane Beryl victims – deadlines postponed to Feb. 3, 2025
On July 22, 2024 the Internal Revenue Service announced tax relief for individuals and businesses in 67 Texas counties affected by Hurricane Beryl that began on July 5, 2024. These taxpayers now have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments. This applies to any area […]
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IRS Grants Relief for Victims of Texas Storms in 2024
On May 28, 2024 the IRS announced tax relief for individuals and businesses in Texas that were affected by severe storms, straight-line winds, tornadoes and flooding that began on April 26, 2024. These taxpayers now have until Nov.1, 2024, to file various federal individual and businesstax returns and make tax payments. Following the disaster declaration […]
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BENEFICIAL OWNERSHIP INFORMATION (BOI) REPORTS STILL REQUIRED AFTER FEDERAL COURT RULING
In a recent turn of events, an Alabama federal judge has declared the Corporate Transparency Act (CTA) of 2021 unconstitutional, bringing relief to only the plaintiffs in that lawsuit. This includes Isaac Winkles, his businesses, and 65,000 members of the National Small Business Association (NSBA). National Small Business United v. Yellen, 5:22-cv-01448 (N.D. Ala. 2024). […]
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New Energy Efficient Home Improvement Credit Up to $1,200 Available in 2023
In a bid to encourage eco-friendly practices, individuals making energy efficient improvements in their homes starting in 2023 may now reap the benefits of a new energy-efficient home improvement credit up to $1,200. This credit, which replaces the old nonbusiness energy credit, can be a valuable financial incentive for those looking to enhance the energy […]
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