The Risks of Unreported Income, FATCA Non-Compliance & 1099-HSA Failing to report income, foreign assets, or Health Savings Account (HSA)...

A federal court reinstated the Corporate Transparency Act (CTA), requiring most small businesses to file a Beneficial Ownership...

Understanding Gift Tax Returns: A Guide for Kids and Parents Giving and receiving gifts is a joyful part of life. Whether it’s a birthday...

Form/Account Deadline Details Form 1099 Jan 31, 2025  (Recipients), Provide to recipients by Jan 31. Feb 28, 2025  (Paper IRS Filing),...

Beneficial Ownership Information (BOI) filing requirements under the Corporate Transparency Act (CTA) Filing for 2024: Key Deadlines and...

Individual Tax Policies ·          Extension of Tax Cuts and Jobs Act (TCJA): A critical component of the proposed reforms is the...

2024 Standard Deduction Changes Filing Status 2023 Standard Deduction 2024 Standard Deduction Increase Single $13,850 $14,600 $750...

Amidst the challenges of launching my business during the uncertain and transformative times of the COVID-19 pandemic, meditation became...

Tax season can be stressful, but the IRS offers extensions for those needing more time to file or pay their taxes. Here’s a brief guide...

A Governor's Certificate of Valor recognizes aiding those trapped in earthquake's aftermath Chris & Adam with our hero Ken Costa March...

It is important to carefully consider and choose the appropriate entity type for your business. The entity type you select will have...

If you as a taxpayer or business owner have received Form 1099-K, it is because: You received payments related to your activities in the...

Typically see refund info within 24 /48 hours after IRS acknowledges e-filed return for latest tax year. Wait six weeks after paper...

In the bustling city of San Jose, where dreams are nurtured and ambitions are pursued, resides an extraordinary individual named...

Recent updates to R&D credit: On Aug. 16, 2022, the Inflation Reduction Act, had tax credits intended to encourage investment in domestic...

The new credit, worth up to $7,500, is made up of two requirements, each adding up to half of the credit. Technical Requirement: Battery...

If you receive a notice, please be sure of your rights. Taxpayers have the right to: Raise objections. Provide additional documentation...

A Recent Chat with a Client "What do you mean, you will have a penalty if you don't make estimated payments? Is this a scam?" Let's dig...

We've Got a Vault of Resources to Help Small Business Owners Master Their Tax Game. Whether you're a self-employed superhero, a gig...

At 2 Cherry Tax, we value your data security. Protecting your tax returns and signatures is essential to us. That's why we're thrilled to...