WPVCPA Posts

November 10, 2023

Employers should certify employees before claiming the Work Opportunity Tax Credit

Employers who hire people from certain groups can reduce the tax they owe when they claim the Work Opportunity Tax Credit on their federal tax return. […]

November 9, 2023

IRS provides tax inflation adjustments for tax year 2024

The Internal Revenue Service today announced the annual inflation adjustments for more than 60 tax provisions for tax year 2024, including the tax rate schedules and […]

November 7, 2023

Avoid a surprise next year; review tax withholding now before time runs out

With 2023 rapidly coming to a close, the Internal Revenue Service today encouraged taxpayers to review their tax withholding as soon as possible to avoid a […]

November 2, 2023

401(k) limit increases to $23,000 for 2024, IRA limit rises to $7,000

The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for […]

November 1, 2023

IRS opens free Energy Credit Online tool for sellers of clean vehicles to register for time-of-sale reporting and dealer advance payments for the Clean Vehicle Credit

The Internal Revenue Service announced today that sellers of clean vehicles can now register using the new IRS Energy Credits Online tool, available free from the […]

October 31, 2023

IRS and Security Summit offer online safety tips during National Cybersecurity Awareness Month

As National Cybersecurity Awareness Month wraps up and tax season approaches, the Internal Revenue Service and the Security Summit partners today reminded taxpayers, including families with […]

October 27, 2023

IRS encourages employers to electronically file payroll tax returns

The Internal Revenue Service today reminded employers that the best way to file their next quarterly payroll tax return by the Oct. 31, 2023, due date is electronically. […]

October 24, 2023

IRS: Beware of fake charities; check before donating

With the tragic crises and natural disasters happening around the globe, many are responding to the call to give what they can to help. The Internal […]

October 20, 2023

IRS launches new initiatives using Inflation Reduction Act funding to ensure large corporations pay taxes owed; continues to improve service and modernize technology with launch of business tax account

Following a dramatically improved 2023 filing season thanks to Inflation Reduction Act (IRA) investments, the Internal Revenue Service has targeted IRA resources on strengthening enforcement, with […]