Identity theft is an increasing concern for taxpayers, and unfortunately, tax season is a prime time for fraudulent activity. When someone uses your personal information—most commonly your Social Security number—to file a tax return, it can delay your filing, disrupt your refund, and require additional steps to resolve. [...]

A new federal savings initiative informally referred to as “Trump Accounts” is set to roll out in the coming years, offering families a unique way to build long-term financial security for their children. While details are still emerging, this program could become a valuable addition to existing savings [...]

What Taxpayers and Tax Pros Need to Know About IRS Payment Modernization and Notice CP53E The IRS has begun implementing major changes to how tax refunds and other federal payments are processed, driven by Executive Order 14247: Modernizing Payments to and From America’s Bank Account. This directive is [...]

If you’ve ever received a confusing IRS notice adjusting your tax return for a “math error,” you’re not alone. For years, taxpayers and tax professionals alike have struggled with vague explanations and unclear next steps when the IRS made automatic changes to a filed return. That’s about to [...]

The state and local tax (SALT) deduction allows taxpayers who itemize deductions on their federal tax returns to deduct state and local taxes paid from their federal taxable income. This includes Minnesota state income tax, local property tax, and certain sales taxes. Thanks to a recent change made [...]

Starting in 2026, new federal guidance may change how certain tips and overtime wages are tracked and reported on employee Forms W-2. While payroll withholding is not changing, employers may need to review payroll setup to ensure earnings are coded correctly—especially for distinguishing qualified vs. non-qualified tips and qualified vs. non-qualified overtime for reporting purposes.  Please note: Payroll withholding requirements have [...]