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in the news

Stories tagged as "in the news"


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​Alert: IRS says it sent wrong balance-due notices

Aug 4, 2022, 7:47 AM

The IRS admitted that some taxpayers are getting inaccurate balance-due letters, referred to as CP-14 notices.
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Tax Rules for Renting Your Vacation Home

Jul 28, 2022, 9:51 AM

​For those in the Black Hills of South Dakota, the Sturgis Motorcycle Rally is fast approaching. That means the area’s highways and byways will soon be roaring. And for some residents, it means it’s time to rent out their vacation homes or second homes. Depending on the length of those rentals, there could be tax implications.
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​Does Your School, Nonprofit, or Government Entity Need a Single Audit?

Jul 22, 2022, 3:53 AM

If your nonprofit or government organization spent $750,000 or more in federal funds, you probably need a single audit.
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​What You Need To Know About Verification Letters from the IRS

Jul 11, 2022, 10:58 AM

There’s been a lot of confusion lately about identity verification letters many people in the area have been getting from the IRS. Are they legitimate letters or some kind of scam? If they are legitimate, what should you do if you get a letter?
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​Tax Benefits of Passive Losses and Like-Kind Property Exchange

Jul 11, 2022, 9:01 AM

Learning about passive losses and like-kind property exchange isn’t for everyone. But there can be some real benefits once you understand how they can play into your overall tax situation.
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​5 Options If You Get an IRS Balance-Due Notice

Jun 24, 2022, 6:15 AM

If you’ve gotten a balance-due notice from the IRS, you’re not alone. Since the agency has started getting caught up in its backlog of returns, correspondence, and other items, it’s ramping up its collection letters again. You’ve got about five options when it comes to a balance-due notice.
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​Bear Scare: Bad Stock Market Might be a Good Time for a Roth IRA Conversion

Jun 23, 2022, 8:06 AM

Ever considered a Roth IRA conversion but didn’t want the hefty tax bill? Well, if there’s any upside to a down market, making that switch now could reduce that tax bite.
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​Selling Your Home? Here’s the Tax Stuff You Should Know

Jun 15, 2022, 2:54 AM

The housing market is pretty spicy in a lot of areas of the country. So, if you’re selling a home right now, here are four tax tips to keep in mind.
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​Government Will Stop Using DUNS Number on April 4

Mar 23, 2022, 4:49 AM

The federal government will stop using the Dun & Bradstreet data universal numbering system — commonly called the DUNS number — on April 4, 2022. If your organization does business with the federal government, you’ll need a Unique Entity Identifier.
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​Can You Deduct Medical Expenses from Your Taxes?

Mar 16, 2022, 8:29 AM

If you have medical bills and expenses, you might wonder if you can deduct any of them from your annual taxes. Here's a quick explainer about when you can deduct medical expenses and which types are qualifying medical costs.
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