Archive for June 2024

Starting this summer, some taxpayers have received an IRS notice CP14 indicating a balance is due on their 2023 Form 1040 return even though payments have already been made. This has affected taxpayers who paid electronically and by check for tax year 2023. The IRS has issued a statement that some of these notices have…

We have an important update to share with you regarding the new IRS update for those impacted by the train derailment. Here are some key takeaways: Tax-Free Payments:The IRS has classified the derailment as a disaster, what this means for you is that certain payment may be tax free. These include: Taxable Payments:However, some payments…