News and Events

IRS Moving Toward Electronic Tax Refunds The Internal Revenue Service (IRS) is in the process of moving away from paper refund checks and toward electronic payments. This change is part of a federal effort to modernize how payments are sent to and from the government and to reduce delays, fraud, and administrative costs. Paper Refund […]

As tax season begins, be on the lookout for your W-2 or 1099 forms. If you do not receive a form or notice that the information is incorrect, it is important to address the issue promptly. These forms are essential for filing your tax return accurately. Here are the steps you should take: For further […]

The IRS reminds employers and businesses that wage statements and certain information returns must be filed by February 2, 2026. This includes Form W-2 for employees and Form 1099-NEC for independent contractors. Copies must also be provided to employees and contractors by this date. All forms must be submitted electronically or postmarked by February 2, […]

Listen to article Every year, millions of Americans miss out on federal tax credits that could lower their tax bill or increase their refund. These credits can help pay for education, child care, health insurance, and even retirement savings. Many people simply do not know these credits exist or think they do not qualify. Tax […]

Do Not Let These Common RMD Mistakes Cost You You may be responsible for taking a Required Minimum Distribution, also called an RMD. Missing this requirement or handling it incorrectly can lead to penalties of up to 25 percent. Understanding the rules now can help protect your savings and prevent an unnecessary tax bill. If […]

Businesses and individuals who received Paycheck Protection Program (PPP) loans in 2020 or 2021 are being targeted by scammers attempting to gain access to their bank accounts. Because the government required PPP loan information to be made public, including recipient names, locations, and loan amounts, fraudsters are using this data to pose as legitimate bank representatives. These scams […]

 🎧 Listen to the article Note: Article adapted from Forbes. MSA reviewed and updated select items for accuracy in consultation with our CPAs. As 2025 draws to a close, taxpayers have a rare chance to benefit from the sweeping One Big Beautiful Bill Act (OBBBA). The law introduced new deductions, higher limits, and expanded credits—but […]

You Can Deduct Tips and Overtime. But Not in Your Paycheck Yet Here’s what that means for you The IRS just announced that some of the reporting and paycheck-related changes tied to the Tips and Overtime deductions will be delayed until 2026. Here’s what you need to know: Starting with your 2025 tax return, you […]

The One Big Beautiful Bill Act (OBBBA), effective July 4, 2025, brings important updates to how income is reported using Form 1099. These changes affect gig workers, self-employed individuals, and anyone using payment apps or online marketplaces for business purposes—including platforms like PayPal, Zelle, and others. Key Changes to Form 1099 Reporting Form 1099-K (Payment […]

🎧 Listen to the article The One Big Beautiful Bill Act includes several provisions designed to support small businesses, encourage investment, and provide long-term tax certainty. Whether you are self-employed, operate a partnership or S-corporation, or run a growing company with employees and equipment, these updates could positively affect your bottom line. Permanent 20% Pass-Through […]