The death of a loved one is one of life’s most difficult times and a time for reflection and grieving. However, it also triggers unique financial and tax events that must be dealt with by the survivors. For a surviving spouse, this is an especially difficult time and can be devastating if the death was sudden […]
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Due to the COVID-19 pandemic, the IRS suspended the mailing of automated reminders to pay overdue tax bills starting in February 2022. These reminders would have normally been issued as a follow-up after the initial notice. Although these reminder notices were suspended, the failure- to-pay penalty continues to accrue for taxpayers who did not fully
IRS Resuming Sending Collection Notices Read More »
The Employee Retention Credit (ERC) was a government-sponsored program to keep workers employed during the Covid-19 pandemic. It provided qualifying employers with a refundable credit against certain employment taxes equal to 70% (up from 50% prior to 2021) of the qualified wages that an eligible employer paid to employees after March 12, 2020, and before
Employers Beware: ERC Voluntary Disclosure Program Ends Soon Read More »
Joseph Wunderlich, affectionately known as Joe, is an experienced professional specializing in accounting and taxation. Currently holding the position of Principal in the tax department at FKC, Joe boasts over two decades of experience in the field. His academic journey began with a Bachelor of Science from Ithaca College in 1994, followed by an MBA
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The U.S. Department of Labor (DOL) announced on Jan. 9, 2024, the issuance of its finalrule regarding whether a worker is an employee or an independent contractor under the federal Fair Labor Standards Act (FLSA). The new rule, which becomes effective March 11, 2024, rescinds the 2021 independent contractor rule issued under former President Donald Trump and
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As Baby Boomers approach retirement, many are considering downsizing their homes to simplify their lives and reduce expenses. However, what seems like a straightforward decision is often complicated by financial and tax implications, especially in today’s volatile housing market. This guide aims to shed light on the challenges and opportunities that come with downsizing, offering
Boomers, Taxes, and the Housing Puzzle Read More »
