As leading tax experts, the team at Abdo wants to ensure you stay up to date on ever-changing tax laws, regulations, and news. Check back daily for our Tax Highlighter blog posts.
The first bill to pass in the 2023 Minnesota legislative session will update several provisions in the state’s tax code to conform to the federal tax code for tax years 2017 through 2022.
Are you hoping to qualify for a clean vehicle tax credit? There’s a new list of potentially eligible plug-in electric or fuel cell vehicles purchased after 2022.
Distributions from a traditional Individual Retirement Account (IRA) are generally taxable when received, though exceptions like the Qualified Charitable Distribution (QCD) for those who are interested in making charitable donations.
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Did you earn more than $600 in income in 2022 from selling goods or providing services? If you received that income via third-party payment apps, you may receive Form 1099-K and the reporting rules for this form have recently changed.
Holiday season is nearly here, and many taxpayers are beginning to think about giving to charity. Be on the lookout for charity scams.
Employers, beware: The IRS is warning about shady third parties advising businesses to claim the Employee Retention Credit (ERC), even when they don’t qualify.
Did you know 501(c)(3) organizations are prohibited from participation in any political campaign for or against any candidate for elected public office?
If important records are destroyed in a disaster or by some other means, you may need to recreate them. The IRS offers tips for reconstructing records.
Did you employ a household worker in 2021? This could include a housekeeper, nanny, gardener, cook, health care worker, tutor or someone else. If so, you may owe what’s commonly called the “nanny tax.”
It’s no secret that some international criminals use cryptocurrency for illegal transactions and to evade tax authorities. Learn how the Crypto-Asset Reporting Framework (CARF) is helping to expose and stop these law breakers.
Will the fate of the so-called “tax extenders” be addressed in Congress this year? The extenders could be part of an omnibus bill, expected in December.
With the end of the year just several weeks away are you sure you’re having the right amount of tax withheld? The IRS urges taxpayers to check their tax withholding while there’s time left.
October is Cybersecurity Awareness Month. The IRS recently warned the public of scams called “smishing” that use texts to steal personal information or download malicious code to a phone.