by Leif Jensen | Jan 7, 2026 | Taxes |
As of October 1, 2025, the IRS and all federal agencies generally no longer accept or issue paper checks, with limited exceptions available for those who cannot use electronic payments. This change is mandated by a presidential executive order to increase efficiency,...
by Leif Jensen | Sep 29, 2025 | Taxes |
S corporation shareholders encounter particular restrictions on the amount of losses and deductions they are permitted to claim on their individual income tax returns. These constraints are primarily governed by the concept of basis, which represents a shareholder’s...
by Leif Jensen | Aug 18, 2025 | Taxes |
I have a client whose return I just completed has a tremendous tax bill because of the huge amount of capital gains, interest and dividends. They had a couple of good things happening, first off, lots of capital gains, usually means a winning investment strategy. ...
by Leif Jensen | Jul 21, 2025 | Taxes |
Tax prep software firms are celebrating the proposal in the House-passed bill: The end of IRS’s Direct File. This program, which IRS first piloted in 2024 and expanded this year, which allows eligible individuals to opt in, and with IRS’s help, to prepare and e-file...
by Leif Jensen | Mar 19, 2025 | Taxes |
I was on a webinar and the subject of divorce and annulment came up. For the longest time we did not have a client get a divorce while they worked with us, then it changed and seemingly a number of them were divorcing all at the same time. We knew our responsibilities...
by Leif Jensen | Jan 6, 2025 | Taxes |
IRS has finalized regulations on broker tax reporting rules for digital assets. A 2021 law requires brokers to report the sales price, tax basis and other data on digital asset trades. The rules were scheduled to first take effect for digital assets acquired on or...
