If you are an employee, you know that various taxes are withheld from your paychecks. While you generally can’t change the amount of social security and Medicare taxes withheld, you can change the withholding amounts of federal and state income tax. In fact, the IRS encourages taxpayers to review their income tax withholding at least…
At R&A CPAs, we often find ourselves counselling individuals or businesses that are overwhelmed by large tax liabilities or mired in IRS bureaucracy. Like you, we see ads promising amazing “pennies on the dollar” settlement deals with the IRS touted by “professionals,” backed up by dramatic testimonials of success. These settlements refer to the IRS’s…
The IRS’s Automatic Exemption from Penalty (AEP) program simplifies tax relief by automatically waiving failure-to-file, failure-to-pay, and failure-to-deposit penalties for compliant taxpayers. Replacing the manual First Time Abate process, the automated system evaluates eligibility during return processing—waiving penalties for individuals and businesses with three years of clean compliance history—without requiring formal requests or phone calls.
A break for many who have been hit by high gas prices: The IRS has quietly announced a revision to the optional standard mileage rates for computing the allowable deductible costs of operating an automobile. Click through to see what has changed—and what hasn’t.
Poor recordkeeping can create costs that include problems with tax compliance, reporting, and planning—among others. Click for details and avoid these errors.
To close loopholes, Congress added Section 170(f)(8)(A) to the Internal Revenue Code to create strict substantiation rules for charitable contribution deductions. Click through for the specifics, so you don’t get caught without proper substantiation for your charitable donations.
January 1 ushered in a new set of provisions resulting from the One Big Beautiful Act that will influence what 2026 looks like. You will want to pay attention now, before the year gets too far along.
The US tax system requires taxpayers to pay tax on income as it is received during the year—paying estimated taxes through the year helps you avoid some potentially significant IRS penalties and interest. Click for what you need to know.
States can create their own tax laws—and that adds complexity for taxpayers who must file both federal and state tax returns. Click for more information and some specifics for Arizona.
January 1 ushered in a new set of provisions resulting from the One Big Beautiful Act that will influence what 2026 looks like. You will want to pay attention now, before the year gets too far along.