Two of the most widely used credits — the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC) — may offer significant opportunities to reduce a client’s federal income tax liability. This article provides an overview of these credits,...
6 Practical Tips for Managing Difficult Tax Clients Tax season can bring out the best—and worst—in your clientele. Stress, deadlines, and complex financial issues may cause some tax customers to act impatient, defensive, or outright combative. As a professional tax...
After a few years of delays, the reporting threshold for third party settlement organizations (TPSOs) reported on a Form 1099-K has officially dropped in 2025. This significant change, which is not the only one affecting Forms 1099-K this year, could affect various...
In 2025, several significant natural disasters have impacted various regions across the United States. In response, the IRS has announced tax relief measures to support affected individuals and businesses. This article outlines the disasters and the corresponding tax...
In 2025, several significant natural disasters have impacted various regions across the United States. In response, the IRS has announced tax relief measures to support affected individuals and businesses. This article outlines the disasters and the corresponding tax...
