Category: Other IRS Tax Issues
The short answer? It’s not finalized yet — and even when it happens, it probably won’t be in the way most people assume. While federal proposals have advanced in both the House and Senate to change how tip income is taxed, these bills are still in negotiation, and the details vary dramatically. The bigger story:
In April 2025, President Donald Trump announced sweeping new tariffs on foreign imports, marking a major shift in U.S. trade policy. A 10% universal tariff on all imported goods began on April 5, with additional “reciprocal tariffs” targeting specific countries, starting April 9. These tariffs are aimed at countering what Trump described as decades of
Tax Attorney in San Diego | IRS Tax Debt Help —If you’re in San Diego and assuming the IRS is too short-staffed to catch tax fraud these days, think again. While headlines often highlight the agency’s shrinking workforce, the real story is much more sobering for those who may be cutting corners on their returns.
Losing your driver’s license over unpaid taxes might sound extreme, but in New York State, it’s not just a threat — it’s a legal enforcement tool used by the New York State Department of Taxation and Finance (NYS DTF). If you owe $10,000 or more in back taxes, your driver’s license can be suspended until the
Tax season can be stressful, especially if you owe more than you can afford. While taking out a personal loan may seem like a quick solution, it’s not always the best choice. The IRS offers alternative repayment plans that are often cheaper and easier to manage. Before borrowing, it’s important to understand the pros and
If you’ve been selling goods or services online, the IRS may have its eyes on your earnings. A new reporting threshold means that millions more taxpayers will receive Form 1099-K this year, and failure to report income could result in penalties. New 1099-K Thresholds: What You Need to Know In 2024, anyone earning over $5,000 from online platforms
The Internal Revenue Service (IRS) has expanded its Direct File system for the 2024 tax season, making it available to millions more taxpayers. Initially launched as a pilot in 12 states last year, the free online filing tool is now open to eligible filers in 25 states. The program, however, faces uncertainty beyond this year
IRS Hiring Freeze Leads to Rescinded Job Offers The IRS has begun implementing a federal hiring freeze following an executive order by President Trump, resulting in revoked job offers and the removal of job postings. While the freeze is meant to be temporary for most agencies, the IRS faces an indefinite pause until the Treasury
The Social Security Administration (SSA) has announced that individual taxable earnings up to $176,100 annually will be subject to Social Security tax in 2025. This marks an increase from the $168,600 wage base in 2024. The wage base limit applies to earnings subject to the 6.2% OASDI tax (Old Age, Survivors, and Disability Insurance). At
IRS Announces 2025 Retirement Plan Dollar Limits and Thresholds The IRS has released the 2025 retirement plan dollar limits and thresholds, reflecting cost-of-living adjustments. These updates impact various retirement savings options, including 401(k) plans, SIMPLE IRAs, and more. Below is a breakdown of the most significant changes. Key 2025 Limits and Adjustments Annual Additions LimitThe
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