The Tax Professionals Blog

Highlights of Internal Revenue Bulletin 2024-39 – 9/23/2024

Posted by Lee Reams Sr., BSME, EA on

This release of IRS Bulletin 2024-39 covers public comments on SECURE 2.0, updates on 501(c)(3) revocations, and key tax credits. Learn more about these IRS developments in this article.

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W-2 After Death

Posted by Lee Reams Sr., BSME, EA on

Employers often make W-2 reporting mistakes after an employee’s death. Learn how to handle post-death payments correctly, including issuing 1099-MISC forms and avoiding tax errors.

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Highlights of Internal Revenue Bulletin 2024-38 – 9/16/2024

Posted by Lee Reams Sr., BSME, EA on

The IRS Bulletin 2024-38 details new updates on clean electricity credits and accounting methods for research expenditures. Stay informed on these regulations and how they may impact your tax planning.

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Automotive Manufacturers’ Sales Incentives

Posted by Lee Reams Sr., BSME, EA on

Automotive sales incentives are taxable but not subject to FICA or self-employment tax. Learn how to report them correctly and avoid common mistakes in this article.

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Highlights of Internal Revenue Bulletin 2024-37 – 9/9/2024

Posted by Lee Reams Sr., BSME, EA on

Discover the IRS's updated interest rates for Q4 2024, including overpayments, underpayments, and large corporate rates. Stay compliant and informed with the latest tax updates.

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