Riverfront Advisors

08/21/2025

https://www.aicpa-cima.com/professional-insights/article/tax-code-changes-what-h-r-1-means-for-you-and-your-clients?utm_source=mnl:taxinsider&utm_medium=email&utm_campaign=21Aug2025

Details on the significant changes wrought by H.R. 1 and the proactive approach you can implement to continue client support.

12/12/2024

BOI compliance update.
Reporting companies may continue to voluntarily file beneficial ownership information (BOI) reports while the Corporate Transparency Act (CTA), P.L. 116-283, is on hold, the Financial Crimes Enforcement Network (FinCEN) said in an alert this week.

The Financial Crimes Enforcement Network said in an alert, however, that reporting companies do not have to file beneficial ownership information reports while a preliminary injunction is in effect.

01/18/2024

We're available to assist with compliance and answer your questions.

Use this FAQ guide to learn about the beneficial ownership information (BOI) reporting requirement many businesses will have.

01/05/2024

Be sure to understand the rules.

As enrollment in Medicare Advantage plans grows, so do concerns about how well the insurance works, including from those who say they have become trapped in the private plans as their health declines.

12/27/2023

Tax Deadlines Postponed for Victims of Storms, Tornadoes in Tennessee:

The IRS has postponed various tax deadlines for victims of storms and tornadoes in Tennessee that began on December 9, 2023. These taxpayers now have until June 17, 2024, to file their federal tax returns and make tax payments. (IR 2023-250, 12/22/2023)

Disaster area. This disaster relief applies to taxpayers in Davidson, Dickson, Montgomery, and Sumner counties. Individuals that reside or have a business in these counties qualify for this postponement.

Note. This same relief will be available to any other Tennessee localities added to the disaster area. The current list of eligible localities available on the IRS' disaster relief page.

Find disaster tax relief information and resources.

12/04/2023

https://www.wsj.com/personal-finance/taxes/federal-tax-withholding-estimates-penalty-2023-e6c3736f?st=3nfim7z3nk2nlzj&reflink=desktopwebshare_permalink

The IRS is charging 8% interest on estimated shortfalls, up from 3% two years ago, one of the many effects of rising interest rates.

11/03/2023

Mint, One of the First Budgeting Apps, Is Shutting Down

Intuit, which acquired Mint in 2009, is encouraging users to switch to Credit Karma, its money management and credit score service.

Intuit, which acquired Mint in 2009, is encouraging users to switch to Credit Karma, its money management and credit score service.

10/25/2023

A temporary change that the IRS made during the COVID-19 pandemic to allow electronic signatures on some forms, documents, and returns was made permanent in the Internal Revenue Manual (IRM) last week.

The forms to which this flexibility applies are listed below. These forms must be signed and postmarked on August 28, 2020, or later. Electronic and digital signatures appear in many forms when printed and may be created by many different technologies. No specific technology is required for these forms.

Form 11-C, Occupational Tax and Registration Return for Wagering.
Form 637, Application for Registration (For Certain Excise Tax Activities).
Form 706, U.S. Estate Tax Return.
Form 706-A, United States Additional Estate Tax Return.
Form 706-GS (D), Generation-Skipping Transfer Tax Return for Distributions.
Form 706-GS (D-1), Notification of Distribution from a Generation-Skipping Trust.
Form 706-GS (T), Generation-Skipping Transfer Tax Return for Terminations.
Form 706-QDT, U.S. Estate Tax Return for Qualified Domestic Trusts.
Form 706 SCHEDULE R-1, Generation-Skipping Transfer Tax.
Form 706-NA, U.S. Estate (and Generation-Skipping Transfer) Tax Return.
Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return.
Form 730, Monthly Tax Return for Wagers.
Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons.
Form 1066, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return.
Form 1120-C, U.S. Income Tax Return for Cooperative Associations.
Form 1120-FSC, U.S. Income Tax Return of a Foreign Sales Corporation.
Form 1120-H, U.S. Income Tax Return for Homeowners Associations.
Form 1120-IC DISC, Interest Charge Domestic International Sales – Corporation Return.
Form 1120-L, U.S. Life Insurance Company Income Tax Return.
Form 1120-ND, Return for Nuclear Decommissioning Funds and Certain Related Persons.
Form 1120-PC, U.S. Property and Casualty Insurance Company Income Tax Return.
Form 1120-REIT, U.S. Income Tax Return for Real Estate Investment Trusts.
Form 1120-RIC, U.S. Income Tax Return for Regulated Investment Companies.
Form 1120-SF, U.S. Income Tax Return for Settlement Funds (Under Section 468B).
Form 1127, Application for Extension of Time for Payment of Tax Due to Undue Hardship.
Form 1128, Application to Adopt, Change or Retain a Tax Year.
Form 2678, Employer/Payer Appointment of Agent.
Form 3115, Application for Change in Accounting Method.
Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts.
Form 3520-A, Annual Return of Foreign Trust with a U.S. Owner.
Form 4421, Declaration – Executor’s Commissions and Attorney’s Fees.
Form 4768, Application for Extension of Time to File a Return and/or Pay U.S. Estate (and Generation-Skipping Transfer) Taxes.
Form 8038, Information Return for Tax-Exempt Private Activity Bond Issues.
Form 8038-G, Information Return for Government Purpose Tax-Exempt Bond Issues.
Form 8038-GC; Information Return for Small Tax-Exempt Governmental Bond Issues, Leases, and Installment Sales.
Form 8283, Noncash Charitable Contributions.
Form 8453 series, Form 8878 series, and Form 8879 series regarding IRS e-file Signature Authorization Forms.
Form 8802, Application for United States Residency Certification.
Form 8832, Entity Classification Election.
Form 8971, Information Regarding Beneficiaries Acquiring Property from a Decedent.
Form 8973, Certified Professional Employer Organization/Customer Reporting Agreement.
Elections made pursuant to Internal Revenue Code Section 83(b).

10/23/2023

Beware of fake charities!

IR-2023-196, Beware of fake charities; check before donating Internal Revenue Service (IRS) sent this bulletin at 10/23/2023 01:10 PM EDT IRS Newswire Oct. 23, 2023 News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Around The Nation e-News Subscrip...

10/19/2023

There have been aggressive tactics used by marketers and scammers with regard to the ERC claim. IRS has now established a procedure so criminal investigation can be avoided by misled taxpayers.

IR-2023-193: IRS announces withdrawal process for Employee Retention Credit claims; special initiative aimed at helping businesses concerned about an ineligible claim amid aggressive marketing, scams Internal Revenue Service (IRS) sent this bulletin at 10/19/2023 09:05 AM EDT News Essentials The New...