Posted on May 18, 2024

Did you know that The Department of the Treasury and the IRS has issued proposed regulations that would provide taxpayers and tax professionals with new guidance concerning the one percent excise tax owed on corporate stock repurchases? The CPAs at Teipen CPA Group are on it. That’s why we’re making sure you know that the […]

Posted on May 14, 2024

The experienced CPA team here at Teipen CPA Group has deep resources and tools to help small businesses understand and meet today’s tax responsibilities. Here’s a few IRS resources we’ve found very helpful for business: Small Business and Self-Employed Tax Center: Resources for small businesses with assets under $10 million and for taxpayers who file these […]

Posted on May 9, 2024

Some businesses were not in compliance of 2023 changes under the SECURE 2.0 Act. Here’s what businesses should know for the year ahead. New SECURE 2.0 Act changes include opportunities in various employer retirement plans to encourage use of these plans. The new provisions potentially affecting Forms W-2 (including Forms W-2AS, W-2GU and W-2VI) are: De […]

Posted on April 20, 2024

All of us are continually to be bombarded by email and text scams, which is why the IRS is warning individuals and businesses to remain vigilant. Identity thieves are very good at tricking people into clicking a suspicious link, filling out personal and financial information, or downloading a malware file onto their computer – and – they are […]

Posted on April 17, 2024

Seems like every tax prep season, some health companies misrepresent the circumstances under which food and wellness expenses (such as food or supplements for weight loss) qualify for reimbursement when they don’t qualify as medical expenses.” According to Mike Poynter, Principal CPA at Teipen CPA Group, personal expenses for general health and wellness are not […]

Posted on April 12, 2024

The CPAs at Teipen CPA Group highly recommend using Where’s My Refund tool through IRS.gov/refunds. Here’s why: Very easy to use and understand. Information is updated every 24 hours. Refund status is available within 24 hours after you e-file your 2023 return. If the IRS needs additional information, you’ll get notified. You get a verified refund […]

Posted on March 18, 2024

If you (and if you are married, your spouse) are a low-to-moderate income earners, there is an IRS program you should know about. The Retirement Savings Contributions Credit (also known as the Saver’s Credit), helps offset part of the first $2,000 you voluntarily contribute to your Individual Retirement Arrangements (IRAs), 401(k) plans and similar workplace retirement […]

Posted on March 12, 2024

The IRS has announced that interest rates will remain the same for the calendar quarter beginning April 1, 2024. Interest rates are computed from the federal short-term rate determined during January 2024. Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and […]

Posted on March 6, 2024

Business owners, managers and others who want to learn more about resolving incorrect Employee Retention Credit claims can view the IRS’s free webinar about the ERC Voluntary Disclosure Program. This webinar can be especially helpful if you believe you may have been misled by aggressive marketing and misinformation around ERC eligibility. Important: Deadline to apply […]