IRS & Dept. of Labor Renew Agreement to Collaborate Against Worker Misclassification

On December 14, 2022, the Internal Revenue Service (IRS) and the U.S. Department of Labor (DOL) announced that they are […]

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December 28, 2022Posted By Tonneson

K-2 And K-3 Domestic Filing Exception Expanded for Partnerships and S Corporations

The IRS recently issued draft partner instructions and partnership instructions affecting domestic partnerships and their filing requirements for their 2022 […]

December 13, 2022Posted By Tonneson

6 Ways to Get a Jump Start on Tax Season

Tax season is still a few months off, but it will be here before we know it, and it’s never […]

December 12, 2022Posted By Tonneson

Year-End Tax Letter 2022

Our 2022 Year-End Tax Letter outlines important guidelines for compliance with federal and state rules of taxation and reporting requirements. This […]

November 22, 2022Posted By Tonneson

When Can I Expect My Tax Refund?

There were—and still are—plenty of horror stories to go around in 2022 about delayed tax refunds. As of November 4, […]

November 16, 2022Posted By Tonneson

What is a 1099-K? How New IRS Reporting Rules May Affect Gig Workers and Merchants

Starting in early 2023, millions of people will begin receiving 1099-K forms, many of them for the first time. Most […]

November 10, 2022Posted By Tonneson

Defer Taxes and Save Money with a 1031 Exchange

Wouldn’t it be great if there was a way to sell your current real estate investments and defer capital gains […]

November 2, 2022Posted By Tonneson

The IRS Adjusts for Inflation—Will Your Taxes Be Affected?

With inflation at its highest rates in decades, the markets in turmoil, and a recession looming, we’re overdue for some […]

October 31, 2022Posted By Tonneson

Amidst Rising Inflation, IRS Boosts 401(k) and IRA Contribution Limits by Record Amounts

On October 21, 2022, the IRS announced a record increase in retirement plan contribution limits for 2023. The new limits […]

October 26, 2022Posted By Tonneson

Senate Finance Republicans Demand Details about IRS’s New Funding

In a recent blog post, we discussed the IRS’s recent windfall of $80 billion via the Inflation Reduction Act to […]

October 24, 2022Posted By Tonneson

The IRS Issues New Procedures Affecting S Corporations

On October 10, 2022, the IRS issued a new revenue procedure allowing S corporations and their shareholders to resolve certain […]

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