Tag Archive: "ira"
-
IRS Takes Aim: Sweeping New Compliance Efforts Announced
The IRS recently announced the start of a “sweeping, historic” effort to restore fairness to the tax system, made possible by funding from the Inflation Reduction Act (“IRA”). Their plan to restore fairness in tax compliance focuses on shifting more attention to high-income earners, partnerships, large corporations, and promoter’s abusing our nation’s tax laws. The […]
-
Tax Planning Strategies for 2022 and Beyond
Happy holidays, everyone! The following are just a few year-end strategies that could yield significant tax benefits for 2022 and beyond. Roth IRA conversions Many retirement account values decrease in 2022, presenting an opportunity for taxpayers to consider converting their traditional IRA to a Roth IRA. When a traditional IRA is converted to a Roth […]