by receptionist@theKFORDgroup.com | Jan 16, 2024 | Newsletters
In July 2023, the Texas legislature passed Senate Bill 3, which increased the no tax due threshold and eliminated reporting requirements for certain entities. No Tax Due Threshold Increased to $2.47 Million from $1.23 Million For reports originally due on or after...
by receptionist@theKFORDgroup.com | Jan 2, 2024 | Newsletters
Each year, businesses lose about 5% of revenue to fraud, according to Occupational Fraud 2022: A Report to the Nations. A key takeaway from the biennial report published by the Association of Certified Fraud Examiners (ACFE) is that active detection methods are far...
by receptionist@theKFORDgroup.com | Dec 22, 2023 | Newsletters
As always, the IRS sets new milage rates at the end of the year for the coming year. Beginning January 1, 2024, they are as follows: The standard mileage rates for cars, vans, pickups, and panel trucks will be 67 cents per mile for business purposes, up 1.5 cents...
by receptionist@theKFORDgroup.com | Dec 14, 2023 | Newsletters
Treasury Secretary Janet Yellen has announced that the first goal of the IRS Paperless Filing Initiative has been met three months early. Taxpayers can now digitally submit all correspondence and responses to notices using the online IRS Document Upload Tool. The IRS...
by receptionist@theKFORDgroup.com | Dec 7, 2023 | Newsletters
The IRS has released cost-of-living adjustments affecting pension plans and other retirement-related items for tax year 2024. Some of the limits applicable to pension and other retirement plans have increased. For instance, the elective deferral limit for employees...