IRS Bulletin 2024-46 includes important updates on employee plans, excise tax changes for preventive services, and revocation of IRC 501(c)(3) status for non-compliance.
Termination payments for retiring insurance agents are subject to specific tax rules. Learn how these payments are treated as ordinary income and the criteria for SE tax exemptions.
IRS Bulletin 2024-47 covers essential updates on retirement plan adjustments, preventive services coverage rules, 501(c)(3) status revocation, and housing credit carryovers for 2024.
For clients facing the Alternative Minimum Tax (AMT), electing itemized deductions can reduce their tax bill. Learn this valuable tax strategy to save money and simplify AMT calculations.
IRS Bulletin 2024-46 brings updates on income tax, including the new requirements for manufacturers to qualify for credits under § 25C and an extension of FATCA reporting relief.
