Accounting Solutions Ltd.

New Retirement Accounts Get a Major Boost From The IRS And Major Employers

New Retirement Accounts Get a Major Boost From The IRS And Major Employers The accounts known as 530A Accounts (a/k/a Trump Accounts), are available for children under age 18. Parents or guardians of babies born between 2025 and 2028 who open these tax-deferred accounts will receive a $1,000 initial deposit from the U.S. Department of the Treasury. To help fund these inves...

The IRS Once Again Has Unlimited Time To Audit Your Returns

The IRS Once Again Has Unlimited Time To Audit Your Returns The Supreme Court’s decision Monday to not review the Murrin Case, as the Plaintiff’s Attorney had requested, lets stand a Third Circuit Court holding that the IRS has an unlimited period to assess tax when a fraudulent return is filed with the intent to evade tax. This is regardless of whether ...

Florida To Eliminate Most Property Taxes

Florida To Eliminate Most Property Taxes The proposed Florida law, known as the “Save Our Homes from Excessive Property Taxes” plan, is a constitutional amendment headed to the November ballot. It seeks to shield primary residences from the majority of property taxes and sets a framework for their eventual total elimination. The propos...