2024 tax calendar Image
2024 tax calendar

Reference this tax calendar to learn the 2024 deadlines for various tax-related forms and payments.

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1/30/2024
IRS provides transitional relief for RMDs and inherited IRAs Image
IRS provides transitional relief for RMDs and inherited IRAs

Some taxpayers can look forward to receiving transitional relief from the IRS related to the required beginning dates...

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8/10/2023
President Biden’s proposed budget includes notable tax provisions Image
President Biden’s proposed budget includes notable tax provisions

Here’s a rundown of the business and individual tax provisions included in President Biden’s recently rel...

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3/30/2023
Reading the tea leaves: Potential tax legislation in the new Congress Image
Reading the tea leaves: Potential tax legislation in the new Congress

With Republicans now in control of the U.S. House of Representatives, what’s the fate of prospective tax legisl...

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2/28/2023
2023 tax calendar Image
2023 tax calendar

Reference this tax calendar to learn the 2023 deadlines for various tax-related forms and payments.

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1/26/2023
Will the standard business mileage rate go up in 2022? Yes! Image
Will the standard business mileage rate go up in 2022? Yes!

The price of gas is up about $1 a gallon from a year ago. How does this affect the amount your business can deduct fo...

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1/10/2022
Potential Tax Law Changes Hang Over Year-End Tax Planning for Individuals Image
Potential Tax Law Changes Hang Over Year-End Tax Planning for Individuals

If you’re concerned about your 2021 tax liability, consider these year-end tax planning strategies.

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11/10/2021
Would You Like to Establish a Health Savings Account for Your Small Business? Image
Would You Like to Establish a Health Savings Account for Your Small Business?

Looking for a flexible, tax-advantaged option for providing health care coverage at your business? Consider a Health ...

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11/3/2021
The Social Security Wage Base Is Increasing in 2022 Image
The Social Security Wage Base Is Increasing in 2022

Business owners and their employees don’t have to pay Social Security tax on all their wages. Amounts above a c...

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10/28/2021
Debate Continues in Congress Over Proposed Tax Changes Image
Debate Continues in Congress Over Proposed Tax Changes

The fate of the Build Back Better Act and the Bipartisan Infrastructure Bill remains uncertain as Congress continues ...

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10/14/2021
10 Facts About the Pass-through Deduction for Qualified Business Income Image
10 Facts About the Pass-through Deduction for Qualified Business Income

Owners of “pass-through” businesses can claim a valuable tax deduction that was created by a 2017 law. He...

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7/8/2021
Here Come the Child Tax Credit Payments: What You Need to Know Image
Here Come the Child Tax Credit Payments: What You Need to Know

If you have children age 17 or under, it’s critical to understand the recent changes made to the child tax cred...

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6/30/2021
Important Changes to the Child Tax Credit Image
Important Changes to the Child Tax Credit

As part of the American Rescue Plan Act enacted in March, significant changes were made to the child tax credit that ...

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6/25/2021
President Biden details his tax proposals for individuals Image
President Biden details his tax proposals for individuals

President Biden’s proposals for individual taxpayers were outlined in an April 28 address to Congress and in an...

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4/30/2021
Extended tax filing deadline provides relief to individual taxpayers and the IRS Image
Extended tax filing deadline provides relief to individual taxpayers and the IRS

The IRS has announced that the federal income tax filing deadline for individuals for the 2020 tax year is extended f...

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3/24/2021
The American Rescue Plan Act: Additional Information Image
The American Rescue Plan Act: Additional Information

On March 11, 2021, President Biden signed into law the American Rescue Plan Act (ARPA). The...

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3/17/2021
The American Rescue Plan Act was signed: What's in it for you? Image
The American Rescue Plan Act was signed: What's in it for you?

Congress has passed the latest legislation aimed at providing economic and other relief from the COVID-19 pandemic th...

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3/11/2021
Many Tax Amounts Affecting Businesses Have Increased for 2021 Image
Many Tax Amounts Affecting Businesses Have Increased for 2021

How much do your employees have to earn in 2021 before they can stop paying Social Security tax? How much can they co...

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2/25/2021
The Cents-per-Mile Rate for Business Miles Decreases Again for 2021 Image
The Cents-per-Mile Rate for Business Miles Decreases Again for 2021

The price of gas is down from a year ago. How does this affect the amount your business can deduct for business drivi...

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2/18/2021
The New Form 1099-NEC and the Revised 1099-MISC Are Due to Recipients Soon Image
The New Form 1099-NEC and the Revised 1099-MISC Are Due to Recipients Soon

A filing requirement is coming up if your business pays independent contractors or makes other payments.

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2/11/2021
The 2021
The 2021 "Social Security Wage Base" Is Increasing

Employees pay Social Security tax on their wages up to the current tax year’s “wage base.” The SSA ...

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11/19/2020
Year-End Tax Planning for 2021 Image
Year-End Tax Planning for 2021

We asked our tax professionals for a few suggestions on how to get organized and prepare for 2021. Here they are...

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11/3/2020
Realistic Timelines

Global economic disruption uniquely affects each business.

The Qualified Business Income Deduction in a Nutshell

The new Qualified Business Income Deduction is one of the more complex proposed changes in the Tax Cuts and Jobs Act,...

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1/14/2019
Are Your Business Expenses Deductible Under New Tax Law? Image
Are Your Business Expenses Deductible Under New Tax Law?

The deductibility of certain expenses is obvious, while in other cases it’s unclear. And the TCJA affects many ...

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11/28/2018
THE TAX CUTS AND JOBS ACT: Changes to Itemized Deductions

Part 2 of 3: A summary of the most widely applicable points of the tax reform passed in December 2017.

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1/19/2018
THE TAX CUTS AND JOBS ACT: Changes to Individual Taxation

Part 1 of 3: A summary of the most widely applicable points of the tax reform passed in December 2017. 

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1/19/2018
THE TAX CUTS AND JOBS ACT: 30 Ways The Act May Affect You And Your Business

A summary of the most widely applicable points of the tax reform passed in December 2017.

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1/19/2018
Steven Sandoval Promoted to Individual Tax & Small Business Consultant

WEC is pleased to announce the promotion of Steven E. Sandoval from Supervisor to Individual Tax and Small Business C...

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7/29/2016
Threatening Calls from the IRS Might be a Scam

BEWARE - Taxpayers are receiving telephone calls from people claiming to be from the IRS, but they are not. These con...

Four Reasons Why Already-Dismal IRS Service is about to Get Much Worse

Few, if any, of us enjoy dealing with the IRS. Often polled as America’s most hated federal agency, the agency&...

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11/25/2014
Charitable Donation of a Vehicle

A Brief Overview of Frequently Asked Questions

When to File an Estate Return Under New Law

The American Taxpayer Relief Act that became law on Jan. 2, 2013, changed the landscape of when an estate tax return ...

American Taxpayer Relief Act

After weeks, indeed months of proposals and counter-proposals, seemingly endless negotiations and down-to-the-wire dr...

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1/11/2013
2012-2013 Tax Planning

Dramatic tax increases scheduled to go into effect in 2013 make 2012 tax planning imperative. The following taxes may...

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9/28/2012
Tax Ramifications of Health Care Reform

The Supreme Court upheld President Obama's signature health care reform in a 5-4 decision on June 28, 2012.  Beg...

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7/8/2012