Tax Relief 101:
Understanding the different forms of tax relief and the qualification criteria can empower taxpayers to take control of their financial obligations to the IRS and seek the necessary assistance.
Business Owners: Owe Back Taxes?
Small businesses often face unexpected financial challenges. Among the scariest of these challenges is unpaid taxes. Once the IRS gears into action, they are known for their relentless pursuit and uncompromising measures.
IRS Sheds Light on a Staggering $688 Billion Tax Gap: A Call for Urgent Measures
In a recent unveiling, the Internal Revenue Service (IRS) shed light on a historic tax gap of $688 billion for the tax year 2021. This revelation marks the highest ever recorded shortfall in tax payments, signaling a pressing issue that demands immediate action. Understanding the Tax Gap The tax gap essentially reflects the difference between […]
Electrifying Tax Credits for EV Buyers: The Road to a Greener Future
The journey towards a greener future is being fueled by incentivizing policies. Starting January 1, 2024, the federal Electric Vehicle (EV) tax credit will transform into a point of sale rebate, igniting the shift towards cleaner energy. Immediate Credits at Point of Sale The U.S. Treasury Department has issued new rules that will turn the […]
Navigating the Tide of Tax Changes in Hawaii: A Closer Look at House Bill 1041 and Recent Legislative Adjustments
Hawaii’s tax landscape is ever-evolving to mirror federal amendments and address the unique financial dynamics of the island state. A significant wave of change came with House Bill 1041, along with other legislative adjustments in 2023. Let’s dive into the key points of these legislative measures. Alignment with Federal Tax Laws House Bill 1041 aligns […]
