Chatters, Metzger & Co. PLLC

01/15/2026

REMINDER - For those wishing to utilize the Idaho Parental Choice Tax Credit, registration opens today

BOISE, Idaho – July 2, 2025 – Parents who want to be ready to apply for the Idaho Parental Choice Tax Credit should check out the Idaho State Tax Commission’s FAQs at tax.idaho.gov/parentalchoicecredit. The Idaho Parental Choice Tax Credit is a new refundable tax credit program that provides n...

08/04/2025

Also courtesy of the IRS: their definition of overtime is only the 'half' in 'time and one-half'

“No Tax on Overtime”

New deduction: Effective for 2025 through 2028, individuals who receive qualified overtime compensation may deduct the pay that exceeds their regular rate of pay – such as the “half” portion of “time-and-a-half” compensation -- that is required by the Fair Labor Standards Act (FLSA) and that is reported on a Form W-2, Form 1099, or other specified statement furnished to the individual.

Maximum annual deduction is $12,500 ($25,000 for joint filers).
Deduction phases out for taxpayers with modified adjusted gross income over $150,000 ($300,000 for joint filers).

Taxpayer eligibility: Deduction is available for both itemizing and non-itemizing taxpayers.

Taxpayers must:
include their Social Security Number on the return and
file jointly if married, to claim the deduction.

Reporting: Employers and other payors are required to file information returns with the IRS (or SSA) and furnish statements to taxpayers showing the total amount of qualified overtime compensation paid during the year.

Guidance: The IRS will provide transition relief for tax year 2025 for taxpayers claiming the deduction and for employers and other payors subject to the new reporting requirements.

07/25/2025

“No Tax on Tips” per IRS FS-2025-03

New deduction: Effective for 2025 through 2028, employees and self-employed individuals may deduct qualified tips received in occupations that are listed by the IRS as customarily and regularly receiving tips on or before December 31, 2024, and that are reported on a Form W-2, Form 1099, or other specified statement furnished to the individual or reported directly by the individual on Form 4137.
“Qualified tips” are voluntary cash or charged tips received from customers or through tip sharing.
Maximum annual deduction is $25,000; for self-employed, deduction may not exceed individual’s net income (without regard to this deduction) from the trade or business in which the tips were earned.
Deduction phases out for taxpayers with modified adjusted gross income over $150,000 ($300,000 for joint filers).
Taxpayer eligibility: Deduction is available for both itemizing and non-itemizing taxpayers.
Self-employed individuals in a Specified Service Trade or Business (SSTB) under section 199A are not eligible. Employees whose employer is in an SSTB also are not eligible.
Taxpayers must:
include their Social Security Number on the return and
file jointly if married, to claim the deduction.
Reporting: Employers and other payors must file information returns with the IRS (or SSA) and furnish statements to taxpayers showing certain cash tips received and the occupation of the tip recipient.
Guidance: By October 2, 2025, the IRS must publish a list of occupations that “customarily and regularly” received tips on or before December 31, 2024.
The IRS will provide transition relief for tax year 2025 for taxpayers claiming the deduction and for employers and payors subject to the new reporting requirements.

02/21/2025

https://www.cooley.com/news/insight/2025/2025-02-20-corporate-transparency-act-reporting-requirements-reinstated-with-deadline-extension
I recommend any Idahoan ask our U.S. Senators to support HR736 and S505 to have this overreach once again delayed until it goes through the courts

News Corporate Transparency Act Reporting Requirements Reinstated With Deadline Extension Cooley alert February 20, 2025 Share Share on LinkedIn Share on Twitter Share on Facebook Download PDF Share with Email In the latest in a series of back-and-forth developments, the Corporate Transparency Act (...

01/15/2025

The IRS sends out over 200 million notices every year. Through our partnership with Protection Plus, you will have the peace of mind that comes with our $1 Million Tax Audit Defense ™ program. If you receive a notice, our team at Protection Plus will spend up to $1,000,000 of services to find a resolution.

10/30/2024

IRS agent told me yesterday that asking via my senator's office why clients hadn't received their refunds in 2+ years was the reason they assigned the requests to audits...all 19 of them. Thanks for targeting Idaho. And they say they aren't playing party politics...

10/24/2024

Wow, KCRCC...can we please keep it civil? Starting dialogues to insight name calling and derogatory commentary is beneath the process. You could do better.

10/24/2024

https://www.thenokbox.com/SUZANNE83652
Because as a trustee & a CPA I want to share a way to create peace of mind. I do not advocate using the do-it-yourself legal side of things [I feel a good consultation with an attorney is helpful to know if it is right for you] but the documents and key organization for assets are extremely well thought out

Estate Planning & Home Organization

09/04/2024

Hooray! Clients are FINALLY receiving their ERTC check from the IRS with a sizable interest amount added. I enjoyed advocating for those that were entitled to receive funds.

05/16/2024

WE ARE NOT THE ONLY PEOPLE SAYING IT....

"The current KCRCC rarely ties its Republican Platform to local issues, and so its effectiveness is blunted. It can raise money, mostly by leveraging national wedge issues, but its contribution to local solutions is minimal."

"Over the last few years, the KCRCC has not been able to bridge the communications gaps between Republicans of different stripes in the community, and its only public speaker appears to be the Chair. PCs are warned that their personal opinions cannot be touted as KCRCC opinions. But, the Chair’s opinions are not only in the paper with no KCRCC approval prior to publication, but they are listed on the KCRCC website as if they represent the opinions of the entire KCRCC."

From communications received May 1, 2024 from
Art Macomber, Precinct Committeeman
Precinct 407

Art Macomber withdrew from the Precinct 407 race and Mary Souza is the current candidate for the precinct committeeman.

I appreciate attorneys because they are often so much better with words than accountants. I have not always agreed with Art Macomber, nor with work performed on behalf of NIC. However, I felt that sharing his view that he's shared with many of us PC contenders needs to go to a wider audience.