Creekview Tax

01/13/2025

Prior to 2025, it was very easy to explain to an employee what the maximum Simple IRA contribution was for that tax year.  Starting in 2025, it will be anything but “Simple”.  Thanks to the graduation implementation of the Secure Act 2.0, there are 4 different limits for Simple IRA

01/04/2025

Employee or contractor….

Tax Tip 2022-117, August 2, 2022 — A business might pay an independent contractor and an employee for the same or similar work, but there are key legal differences between the two. It is critical for business owners to correctly determine whether the people providing services are employees or inde...

12/24/2024

In light of a December 23, 2024, federal Court of Appeals decision, reporting companies, except as indicated below, are once again required to file beneficial ownership information with FinCEN. However, because the Department of the Treasury recognizes that reporting companies may need additional time to comply given the period when the preliminary injunction had been in effect, we have extended the reporting deadline as follows:

Reporting companies that were created or registered prior to January 1, 2024 have until January 13, 2025 to file their initial beneficial ownership information reports with FinCEN. (These companies would otherwise have been required to report by January 1, 2025.) See website for more.....

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12/19/2024

Edward Y. Kim, the Acting United States Attorney for the Southern District of New York, announced today the guilty plea of RAFAEL ALVAREZ, a/k/a “the Magician,” to a two-count Superseding Information charging ALVAREZ with one count of conspiracy to defraud the U.S. and steal government funds and...

12/19/2024

IR-2024-311, Dec. 19, 2024 — With the 2025 filing season quickly approaching, the Internal Revenue Service encouraged taxpayers to take key steps now to prepare for filing their 2024 federal income tax returns next year.

10/19/2023

IR-2023-193, Oct. 19, 2023 — As part of a larger effort to protect small businesses and organizations from scams, the IRS today announced the details of a special withdrawal process to help those who filed an Employee Retention Credit (ERC) claim and are concerned about its accuracy.

10/16/2023

Updated October 13, 2023 to reflect the permanent extension of free weekly credit reports.

The three national credit reporting agencies — Equifax, Experian, and TransUnion — have permanently extended a program that lets you check your credit report at each of the

05/04/2023

A Louisiana man was sentenced to 10 years in prison for money laundering related to a fraudulent scheme involving Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Program loans.

04/25/2023

Tax Notes is the first source of essential daily news, analysis, and commentary for tax professionals whose success depends on being trusted for their expertise.

04/16/2023

IR-2023-77, April 11, 2023 — The Internal Revenue Service said today that taxpayers who filed their federal income taxes early in this year’s filing season and reported certain state 2022 tax refunds as taxable income should consider filing an amended return.

03/25/2023

IR-2023-53, March 22, 2023 — The Internal Revenue Service today revised frequently asked questions (FAQs) for Form 1099-K, Payment Card and Third Party Network Transactions, in Fact Sheet FS-2023-06.