New Clean Vehicle Credit

The new clean vehicle credit in effect in 2023 has numerous requirements. In addition to meeting the manufacturing requirements (which the licensed dealer should be able to provide), there is an income limitation based on…

Payment Apps and Form 1099-K

Taxpayers who were paid for goods and services through a third-party payment network, such as PayPal, Venmo, eBay, etc. will now receive a reporting form “Form 1099-K Payment Card and Third-Party Network Transactions” once the…

Clean Energy Incentives

The recently passed Inflation Reduction Act expanded on several tax incentives for taxpayers that choose energy efficient alternatives. Some of the key changes include: The Act increased the nonrefundable personal tax credit for having qualified…

IRS Issues Advise on Suspicious Communications

Each year the IRS issues its list of 12 common tax scams that are impacting taxpayers. One such scam is suspicious communications taxpayers receive through unsolicited text messages, emails, or phone calls. These scams are…