5-Star Holdings, Inc.

02/05/2026

Missed our annual newsletter? Catch up on the latest tax updates here!

01/30/2026

01/16/2026

⭐Tax 101: What's New - OBBBA Tax Act (online): This course meets 6 separate days ONLINE. Tue. 1/20/2026, Thurs. 1/22/2026, Tue. 1/27/2026, Thurs. 1/29/2026, Tue. 2/3/2026, Thurs. 2/5/2026 (6 classes ONLINE)

The One Big Beautiful Bill Act was enacted into law on July 4, 2025, containing 100+ tax provisions. What is in it for you? Learn details about the headlines you have heard…New Deduction for Seniors, No Tax on Tips, No Tax on Overtime, New Deduction for Car Loan Interest, plus Increased Child Tax Credit and Increased State and Local Tax (SALT) Deduction. What is in it for your business? Tax wins include return of 100% Bonus Depreciation expenses, Deductions for Research and Development (R&D) expenses, and changes to the thresholds for issuing Forms 1099. Sign up now to get all the details to maximize your tax savings!

✅Sign up at the link now: https://utconferences.eventsair.com/CEPortal/contact-store---ce/ce-portal-cpell/Calendar?courseCode=26WIPPD1331

12/23/2025

Merry Christmas from Team 5-Star 🎄

12/11/2025

📢IRS Update for Retirees and Families: 2025 RMDs📢

If you are 73 or older, it’s important to review your required minimum distributions (RMDs) from IRAs and retirement plans.💵📅

Key Points:

👵RMD Age: SECURE 2.0 sets the starting age at 73.

📅Upcoming RMD Distribution Deadline: December 31 (for 2025).

🔁Annual Withdrawals Thereafter: RMDs are generally due every year by December 31.

💼Accounts Affected: Traditional IRAs, SEP/SIMPLE IRAs, 401(k), 403(b), and other employer plans.

🧾Roth Accounts: Roth IRAs and designated Roth 401(k)/403(b) accounts do not require RMDs while the owner is alive.

⚠️Penalties: There is an excise tax of up to 25%, or 10% if corrected within two years.

Inherited IRAs

✅Beneficiaries must follow special RMD rules based on when the original owner died and their type of beneficiary.

✅Many non-spouse beneficiaries must distribute the account within 10 years, according to the SECURE Act.

✅Roth IRAs inherited by beneficiaries are also subject to 10-Year Rule requirements, even if the original owner had no RMDs.

Learn More:

🔗 https://www.irs.gov/retirement-plans/retirement-plan-and-ira-required-minimum-distributions-faqs

🔗 https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds

🔗 https://www.kiplinger.com/taxes/irs-ends-confusion-annual-rmds-required-for-many-inherited-iras

🔗 https://www.fidelity.com/retirement-ira/inherited-ira-rmd

11/27/2025

This Thanksgiving, there are many reasons to be thankful. Most importantly, we are grateful for the opportunity to serve members of both our military and civilian communities. Sending our best wishes for a Happy Thanksgiving to you and yours! 🦃🍂

10/30/2025

🚨 IRS Operations Update🚨

Here’s what you need to know 👉

✅ Still Available:
● IRS.gov and automated tools like “Where’s My Refund”, the IRS2Go app, and online payment options
● Electronic filing & direct deposit, refunds for error-free e-filed returns will continue to be issued
● Tax payments (electronic or by mail) will still be processed
● Income Verification Express Service (IVES) will remain active

🚫Temporarily Unavailable:
● In-person Taxpayer Assistance Centers (TACs), all appointments are canceled until the government reopens
● Appeals and Taxpayer Advocate Service appointments will be rescheduled later
● Processing of paper returns, mail correspondence, and tax-exempt applications is expected to experience delays

📅Important Reminder:
Tax laws remain in effect, and all filing and payment deadlines still apply. Continue filing and paying taxes on time to avoid penalties.

🔗 Visit IRS.gov for the latest updates
🔗 Click Here For IRS article info:https://www.irs.gov/newsroom/statement-on-irs-operations-limited-during-the-lapse-in-appropriations-regular-tax-deadlines-remain

10/21/2025

📢Get Ready for Form 1099-DA

💻Beginning in 2026, brokers will prepare and file Form 1099-DA to report digital asset transactions from 2025. Most of these statements won’t include cost basis, meaning investors must track it themselves.

✅Now’s the time to:

• Review and reconcile transactions across exchanges, wallets & accounts

• Apply accurate cost basis methods & document your findings

• Categorize income events properly

• Use trusted digital asset software and verify data

📌DeFi brokers and some foreign brokers aren’t required to file 1099-DA, but taxpayers are still held responsible for reporting all taxable digital asset activity.

🔗Learn more:

IRS Digital Assets: irs.gov/digitalassets

Form 1099-DA Instructions: irs.gov/instructions/i1099da

09/24/2025

Thank you, Women of Haslam for having 5-Star at the job fair panel!

09/16/2025

✨Memories of 5-Star Holdings, Inc. visiting military units to educate service members. Please leave a comment if you'd like us to come by your unit and share information about special tax deductions available to the military!✨

08/21/2025

🚨No Tax on Tips, Overtime & More, Courtesy of the One Big Beautiful Bill Act 🚨

💵 No Tax on Tips
✅ Deduct up to $25,000 in tips per year if you work in an eligible tipping job
✅ Applies to both W-2 employees and self-employed workers
✅ Phases out for incomes over $150K (single) or $300K (joint)

⏱ No Tax on Overtime
✅ Deduct the overtime “extra”, like the “half” in time-and-a-half
✅ Up to $12,500 (single) or $25,000 (joint) per year
✅ Same income phase-out thresholds

🚗 Deduct Interest on Car Loans
✅ New car, U.S.-assembled only
✅ Interest deductible up to $10,000/year
✅ Phases out starting at $100K (single) or $200K (joint)

👵 Extra Senior Deduction
✅ If you're 65+, claim an extra $6,000 per person
✅ Phases out over $75K (single) or $150K (joint)

🧾 Use the White House Tax-Free Tips & Overtime Calculator👉 https://www.whitehouse.gov/obbb/
📜 The official IRS letter is linked here 👉 https://www.irs.gov/newsroom/one-big-beautiful-bill-act-tax-deductions-for-working-americans-and-seniors

07/31/2025

⚠️ Protect Yourself from Tax Fraud with an IP PIN ⚠️

✅ What You Need to Know:

📌 Anyone with a SSN or ITIN can request an IP PIN
🔢 It’s a 6-digit number used to verify your identity when filing taxes
🗓️ IP PINs are valid for one year, a new one is issued annually
🧾 You must use your IP PIN when filing your tax return
🚫 The IRS will never contact you via phone, email, or text to request your IP PIN
👨‍👧 Consider getting your child an IP PIN. It adds an extra layer of security preventing someone else using your child's social security number to file a tax return.

🛠️ How to Get an IP PIN:
1. 🖥️ Visit IRS.gov and create an account (if you don’t already have one).
2. 🔐 After logging in, go to your Profile and request an IP PIN.

📄 Can’t verify online or have low income?
You may qualify to file Form 15227 (EN-SP) if your income is:
1. Less than $8,400 for individuals
2. Less than $168,000 for married couples filing jointly (2025)

Learn more about IP PINs here 👉 https://content.govdelivery.com/accounts/USIRS/bulletins/3e8dacd?reqfrom=share