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Following the devastating storms, flooding, and tornadoes that struck Michigan in August 2023, the Internal Revenue Service (IRS) swiftly enacted crucial tax relief measures for affected individuals and businesses. The IRS provided information on Michigan storm tax relief provisions, including extended filing deadlines, exceptions, and penalty abatements, to alleviate the financial burdens Michigan storm victims …
Using Our New Gateway Portal At CPA Nerds, we’re like the superheroes of privacy and security – we’ve got your back! Your comfort is our top priority, especially when it comes to handling your important tax info. That’s why we’ve leveled up our security game! Our new, shiny multifactor authentication process is like a secret …
Overview of 2024 IRS Cost-of-Living Adjustments The Internal Revenue Service (IRS) has released the updated cost-of-living adjustments for 2024, affecting both retirement plan and health and welfare benefit plan limits. Below are charts detailing these new limitations. Retirement Plan Limitations Retirement Plan Limitation 2023 Limit 2024 Limit 401(k) and 403(b) Employee Contribution Limit $22,500 $23,000 …
IRS Announces Requirement to E-file Form 8300 Hold onto your digital hats, folks! The IRS, in their never-ending quest to be the life of the party, just dropped a tech-savvy bombshell. Starting on the futuristic date of 1/1/24, businesses must embrace the 21st century and electronically file Form 8300, the Report of Cash Payments Over …
If you are not been able to put together all of your annual filings by Tax Day (April 18, 2022), or you can’t pay the money that the IRS is demanding, you’re not alone. Millions of Americans and small businesses miss Tax Day every year, filing taxes late, and millions more struggle with high tax …
