The IRS has announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. This also applies to 403(b), most 457 plans, and the federal government's Thrift Savings Plan. Also increasing is the...
IRS
Understanding taxes when a family member signs the paycheck
Many people work for a family member, whether it’s a child helping out at their parent’s shop or spouses running a business together. When someone is employed by a family member, the tax implications depend on the relationship and the type of business. It’s important...
IRS reports significant increase in texting scams; warns taxpayers to remain vigilant
WASHINGTON — The Internal Revenue Service warned taxpayers of a recent increase in IRS-themed texting scams aimed at stealing personal and financial information. So far in 2022, the IRS has identified and reported thousands of fraudulent domains tied to multiple...