The Internal Revenue Service has made recent improvements to the 'Where's My Refund?' tool on IRS.gov, providing taxpayers with more comprehensive information about their refund status. The tool now provides IRS confirmation of receipt, approval of the tax refund, and the issuing date of the approved tax refund.

The IRS Commissioner, Danny Werfel, advises taxpayers to be cautious of aggressive marketing around the Offer in Compromise (OIC) program. He emphasizes that while the program is legitimate, it's not for everyone and there are specific requirements needed to qualify.

A new analysis from the U.S. Department of the Treasury and the IRS reveals that the Inflation Reduction Act (IRA) could potentially increase revenue by $561 billion over 2024-2034, a significant increase from previous estimates. If IRA funding is renewed, estimated revenues could reach as much as $851 billion.

As the tax deadline approaches, it is imperative that small business owners stay informed about any tax changes and new legislation.

The expanded timeline for the Public Service Loan Forgiveness (PSLF) program is coming to an end on April 30.

The idea of a four-day work week is gaining traction in the corporate world, with companies reporting increased efficiency and positive impacts on staff well-being.

This detailed analysis of Employee Stock Ownership Plans (ESOPs) provides key insights into their financial and tax implications for businesses and their employees. It delves into their potential for charitable giving, the strategic role of Qualified Replacement Property (QRP), and the importance of IRS compliance in ESOP structures.

As we approach the tax filing deadline, the IRS has provided an array of tips to aid taxpayers in avoiding errors and speeding up potential refunds. From collecting tax-related paperwork such as Forms W-2 and 1099, to understanding the importance of correct filing status and reporting all taxable income, these tips serve as a comprehensive guide to an efficient tax filing process.

The Minnesota Secretary of State’s office has announced an exciting opportunity for Minnesota-based entrepreneurs, researchers, inventors, and small business owners. The MN Cup, organized by the University of Minnesota, is a competition designed for companies with less than $1 million in annual revenue. The competition offers free education, mentorship, promotional opportunities, and seed funding for those that advance.

Holding companies offer benefits such as tax efficiency, liability protection, and privacy, but they also present challenges and complexity. This article provides an overview of what holding companies are, how they work, and their pros and cons.

Fraudsters create imposter social media pages and accounts using Social Security-related images and jargon, making them appear as if they’re associated with or endorsed by the Social Security Administration. Learn how to identify these scams.

Explore the impact of a recent legal shift that broadens the scope of self-employment taxes, including limited partners and gig workers. Learn how everyday activities could land you in the self-employment tax bracket and how to avoid potential penalties.

Explore two popular retirement plans, SEP IRA and Solo 401(k), for the self-employed in this overview, focusing on their benefits, drawbacks, and the strategic considerations for choosing between them. Learn about higher contribution limits, flexibility, and tax advantages these plans offer. Get insight into which plan best fits your retirement goals and business structure.

The U.S. Department of Labor's new rule reinstates the "economic reality test" for distinguishing employees from independent contractors and underscores the significant legal and financial consequences of misclassification. This article provides an overview of the rule, its implications, and the steps employers must take to ensure their worker classifications are under the updated guidelines.

Discover how the IRA's expanded energy tax credits offer substantial incentives for a range of projects, from solar power to energy storage. Delve into the specifics of these credits and learn how these changes can benefit project developers and innovators in the energy sector.