News

WHAT’S NEW You are now eligible to voluntarily get an Identity Protection PIN that will help protect you from tax-related identity theft. What is the IP PIN? The IP PIN is a 6-digit number assigned to eligible taxpayers. It helps prevent identity thieves from filing fraudulent tax returns with stolen Social Security numbers (SSNs). An…

The “Setting Every Community Up for Retirement Enhancement” Act (the SECURE Act), was signed into law by the President on December 20, 2019, and significantly modifies many requirements for employer-provided retirement plans, individual retirement accounts (IRAs), and other tax-favored savings accounts. Repeal of Maximum Age for Traditional IRA Contributions The SECURE Act repeals the prohibition…

On December 20, 2019, President Trump signed into law the Further Consolidated Appropriations Act, 2020 (the Act). The Act extends over 30 provisions, generally through 2020.  These are a few key provisions that you should know about:  Exclusion from Gross Income of Discharge of Qualified Principal Residence Indebtedness:  Gross income does not include the discharge…

Dear Clients and Friends: One of the pleasures of tax season is the opportunity it affords us to have personal contact with you.  We have enjoyed working with you this season and catching up on your activities.  Please note that our “post tax season” office hours are Monday through Thursday, 8:30 – 5, and Friday, 8:30 –…