Balance Tax and Accounting

07/22/2026

Received an IRS CP53E notice? Learn why taxpayers who choose paper refund checks may wait more than two months and what you can do to avoid delays.

07/21/2026

Family members funding a child's Trump account? New IRS guidance explains when contributions qualify for the annual gift tax exclusion and when a gift tax return may still be be required.

IRS guidance clarifies when Trump account contributions qualify for the gift tax annual exclusion and when a gift tax return may still be required.

07/20/2026

Reasonable compensation should evolve as your business grows. Learn why S corporation owners should review salary, distributions, and tax planning regularly.

07/20/2026

Retired disabled first responder? A new federal law may make certain disability pensions tax-free beginning in 2027. Watch this video to learn what it could mean for you.

07/17/2026

The economy is uneven, and your 2026 tax strategy should reflect your reality. Learn how growing and slowing businesses can adjust tax planning, cash flow, and expenses.

The economy is uneven. Learn tax planning strategies for growing and slowing businesses, including cash flow, expenses, and 2026 tax-saving opportunities

07/16/2026

Learn how the IRS 10-year collection statute works, what can extend it, and why waiting out tax debt is often riskier than it sounds

Learn how the IRS 10-year collection statute works, what can extend it, and why waiting out tax debt is often riskier than it sounds.

07/16/2026

Choosing between an S corporation and C corporation involves more than tax rates. Learn the key factors that can impact growth and profits.

07/14/2026

The IRS has announced that it will begin automatically forgiving certain penalties for taxpayers who have not had a similar penalty in the past three years, rather than requiring them or their tax preparer to request relief for them.

The IRS will automatically waive certain penalties for eligible taxpayers with a strong compliance history. Learn who qualifies.

07/13/2026

The IRS increased business, medical, and moving mileage rates effective July 1, 2026. Learn the new rates and how they affect your deductions.

The IRS recently announced a 4-cent increase in the optional mileage rate, effective for the last half of 2022.

07/13/2026

Learn how the 180-day rule may allow certain 2026 capital gains to be deferred through a Qualified Opportunity Fund investment.