Receiving an IRS notice can be intimidating, but it’s important to remember that not all notices are bad news. Often, they are just requests for additional information or notifications of minor issues. Here’s a step-by-step guide on how to handle IRS notices effectively: 1. Stay Calm First and foremost, don’t panic. Not all IRS notices imply […]
How Do I Handle IRS Notices? A Complete Guide Read More »
Overview The Tax Cuts and Jobs Act (TCJA), which introduced several tax benefits starting in 2018, is scheduled to sunset on December 31, 2025. This guide aims to help individuals and businesses prepare for these upcoming changes by understanding the implications of the sunset provisions. Individual Provisions Individual Income Tax Rates Key Changes for Individuals
Sunset Planning for the Tax Cuts and Jobs Act (TCJA) Read More »
As you revel in the financial benefits of your endorsements and partnerships, it’s crucial to remember the responsibility that comes with it—taxes. The tax deadline is April 15, 2024. To ensure you stay on the right side of the law and to make the most of your hard-earned income, we’ve put together this guide on
Navigating NIL Income: A Guide to Preparing Your Taxes as an Athlete with DPW Read More »
Forms 1099 Businesses (including Schedule C’s; farms, rentals, etc.) are required to prepare these annual informational returns for certain amounts paid during the conduct of their trade or business. Recipient copies are required to be issued by January 31, 2024. In order to meet this deadline, we need you to submit all of your information,
Important 2024 Tax Deadlines and Cutoff Dates Read More »
The Internal Revenue Service (IRS) has released the new 2024 contribution limits for investors’ retirement accounts, bringing some noteworthy changes. These adjustments impact 401(k) plans, individual retirement accounts (IRAs), and other retirement savings vehicles. For 401(k) plans, the employee contribution limit will increase to $23,000 in 2024, marking a slight uptick from the previous year’s
A Tax Break with a Patriotic Purpose Oregon has taken a remarkable step in recognizing the sacrifices and contributions of National Guard members by implementing a tax break for these dedicated individuals. The tax change specifically impacts the income tax of Oregon National Guard members, providing significant relief for those who serve in this important
The Oregon National Guard Tax Change: Supporting Our Troops on the Homefront Read More »
Oregonians have a reason to celebrate as the state is set to inject some unexpected cash into the pockets of eligible residents. The Oregon ‘kicker’ program, which refunds surplus state revenue to taxpayers, is making headlines for its remarkable $5.61 billion revenue surplus during the 2021-2023 biennium. This surplus, recently confirmed by the Oregon Office
Oregon ‘Kicker’ Credit: Who Qualifies and What’s It Worth? Read More »
With tax season fast approaching and it is taking the Internal Revenue Service (IRS) and Oregon Department of Revenue (ODR) 7-10 days to confirm your online account, we encourage you to create your accounts now to prevent payment delays. As technology evolves everyone, including the IRS and ODR, is moving toward only accepting online payments
Create an Account Now with the IRS/ODR Read More »
Employers now have a new tool to share information with their employees about Paid Leave Oregon. The model notice poster informs employees about benefits and tells them about their rights and duties under the program. Employers must post the Paid Leave Oregon model notice poster at each work site, and they must share it electronically
Paid Leave Oregon Poster Now Available Read More »
If you would like to make the election, you will be required to register on Revenue Online before estimated payments can be made.Registration will open June 6, 2022. For the 2022 tax year, the first required estimated tax payment is due June 15, 2022. The first quarter estimate was not required, therefore the estimated payment due on
Register Today. Pass-Through Entity Elective Tax Read More »
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